Marilyn Simms died with a $200,000 life insurance policy.Her husband,Jack,was the primary beneficiary and their children,Mimi (age 24)and Ann (age 30),were the contingent beneficiaries.All three survived Marilyn.How would the policy proceeds be distributed?
A)$200,000 to Jack
B)$100,000 each to Mimi and Ann
C)$100,000 to Jack and $50,000 each to Mimi and Ann
D)$66,666 each to Jack, Mimi, and Ann
E)$150,000 to Jack and $25,000 each to Mimi and Ann

Question

Quizplus · Accepted Answer

Jack is the primary beneficiary, so he receives the entire $200,000.

Marilyn Simms Died with a $200,000 Life Insurance Policy