Q65
Once an absolute assignment is effected under a life insurance policy, who will be the titleholder(s) of this policy?
A.
The assignor in all cases
B.
The assignee in all cases
AnswerC.
Either the assignor or assignee depending on the type of policy involved
D.
The assignor and assignee jointly
Answer: Option B
Solution
Answer: Option B
Solution:
Once an absolute assignment is effected under a life insurance policy, The assignee in all cases will be the titleholder(s) of this policy. Transfer by the holder of a life insurance policy (the assignor) of the benefits or proceeds of the policy to a lender (the assignee), as a collateral for a loan.