Question

A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as ________.

A Convertible Correct Answer Incorrect Answer
B Contingent Liability Correct Answer Incorrect Answer
C Contractual Liability Correct Answer Incorrect Answer
D Contingent Beneficiary Correct Answer Incorrect Answer

Solution

A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as Contingent Beneficiary.

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