[amp_mcq option1=”Deceased Partner’s Personal Account” option2=”Remaining Partner’s Personal Accounts” option3=”All Partner’s Personal Accounts” option4=”Joint Life Policy Insurance Account” correct=”option2″]<\/p>\n
The correct answer is B. Remaining Partner’s Personal Accounts<\/strong>.<\/p>\n A joint life insurance policy is a type of life insurance policy that covers two people, typically a husband and wife. When one of the insured people dies, the other person receives the death benefit. The balance amount in the Joint Life Insurance Policy Reserve Account is transferred to the remaining partner’s personal accounts.<\/p>\n Option A is incorrect because the deceased partner’s personal account is not a valid option. The deceased partner is no longer alive and does not have a personal account.<\/p>\n Option C is incorrect because all partner’s personal accounts is not a valid option. The remaining partner is the only person who is entitled to the death benefit.<\/p>\n Option D is incorrect because the Joint Life Policy Insurance Account is not a valid option. The death benefit is paid to the remaining partner’s personal accounts, not to the Joint Life Policy Insurance Account.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Deceased Partner’s Personal Account” option2=”Remaining Partner’s Personal Accounts” option3=”All Partner’s Personal Accounts” option4=”Joint Life Policy Insurance Account” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-56738","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\n