Shelley obtains a life insurance policy with no cash surrender value or cash value,and names her son Thad as the beneficiary.This is

Question

Quizplus · Accepted Answer

The fact that there is no cash surrender value or cash value indicates that this is a term insurance policy. Thad being named as the beneficiary simply means he will receive the death benefit if Shelley passes away during the term of the policy.

Shelley Obtains a Life Insurance Policy with No Cash Surrender