Multiple Choice
Will wants to buy a new car. He goes to the bank to get a loan for the purchase, and signs an agreement to pay $10 per month in premiums on a term life insurance policy which names the bank as the recipient of the policy proceeds in the event of his death before the loan is repaid. The bank is a(n) :
A) incidental beneficiary.
B) creditor beneficiary.
C) donee beneficiary.
D) assignee.
Correct Answer:
Verified
Correct Answer:
Verified
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