Q332
A policy taken with critical illness rider benefit is being assigned. Which type of assignment would suit the intended purpose because if the life insured is diagnosed with a critical illness, he only should receive the critical illness rider claim?
A.
Absolute assignment
B.
Conditional assignment
AnswerC.
Loan assignment
D.
Collateral assignment
Answer: Option B
Solution
Answer: Option B
Solution:
A policy taken with critical illness rider benefit is being assigned. Conditional assignment would suit the intended purpose because if the life insured is diagnosed with a critical illness, he only should receive the critical illness rider claim.