Multiple Choice
Which of the following statements about the assignment of a life insurance policy is (are) true?
I.Under a collateral assignment,the policyowner assigns a life insurance policy to secure a loan.
II.Under an absolute assignment,only limited ownership rights in a policy are transferred.
A) I only
B) II only
C) both I and II
D) neither I nor II
Correct Answer:
Verified
Correct Answer:
Verified
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