LESSON 4: LIFE INSURANCE PREMIUMS, PROCEEDS AND BENEFICIARIES

Section 4.6 Review

There can be no more than three beneficiaries named in a life insurance policy.

	a)	True
	b)	False
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The method in which policy proceeds are dispersed equally to each beneficiary named in the policy is the ____________ method.

	a)	Per Capita
	b)	Per Stirpes
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The __________ method is used to divide policy proceeds equally among children of a deceased beneficiary.

	a)	Per Capita
	b)	Per Stirpes
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When a minor is the named beneficiary, the fiduciary responsibility lies with the:

	a)	trustee.
	b)	policyowner.
	c)	guardian.
	d)	estate.
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Most policies contain revocable beneficiary designations.

	a)	True
	b)	False
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