The correct answer is: A. A policy reported to be lost, may actually have been assigned.
A policy reported to be lost may actually have been assigned. This means that the policy owner has transferred ownership of the policy to another person. The new owner of the policy is then responsible for paying the premiums and receiving the benefits.
A policy has no value after the payment of survival benefits. This is because the purpose of a life insurance policy is to provide financial protection for the beneficiaries in the event of the death of the insured person. Once the beneficiaries have received the survival benefits, there is no longer any need for the policy.
Therefore, the correct answer is A. A policy reported to be lost, may actually have been assigned.