[amp_mcq option1=”Policy proceeds on surrender may be paid to the assured in an emergency” option2=”Only wife can be a trustee in such policy” option3=”If a trustee is not appointed the policy money can only be paid to the official trustee of the state” option4=”Only children can be beneficiaries of the policy” correct=”option3″]<\/p>\n
The correct answer is: C. If a trustee is not appointed the policy money can only be paid to the official trustee of the state.<\/strong><\/p>\n A. Policy proceeds on surrender may be paid to the assured in an emergency. This is not always the case. The policy terms may specify that the policy proceeds can only be paid to the trustee, or to the beneficiary if there is no trustee.<\/p>\n B. Only wife can be a trustee in such policy. This is not true. Any person can be appointed as a trustee, regardless of their gender.<\/p>\n D. Only children can be beneficiaries of the policy. This is not true. Any person can be named as a beneficiary of a life insurance policy, regardless of their relationship to the insured.<\/p>\n In the event that a trustee is not appointed for a life insurance policy, the policy proceeds will typically be paid to the official trustee of the state. The official trustee is a government official who is responsible for managing the estates of people who have died without a will.<\/p>\n If you are considering taking out a life insurance policy, it is important to understand the terms of the policy and to make sure that you are comfortable with the arrangements that will be made for the payment of the policy proceeds in the event of your death.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Policy proceeds on surrender may be paid to the assured in an emergency” option2=”Only wife can be a trustee in such policy” option3=”If a trustee is not appointed the policy money can only be paid to the official trustee of the state” option4=”Only children can be beneficiaries of the policy” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32359","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"\n