5 Edmond is a life insurance agent who sold a whole life policy to his client Emile a few years ago. Emile becomes mentally incapable after an accident and her brother, Jake, meetsEdmond to surrender Emile's policy. Jake informs Edmond that he is Emile's enduring power of attorney. What must Edmond do first before proceeding with Jake's request tosurrender the policy?aUNKOXFJWSt60EQ0YzljeUkyUVoxdz09 →a. O Edmond should transfer the ownership of the insurance policy to Jake before accepting his request to surrender the policy.b. O Edmond should obtain a certified true copy of the power of attorney from a notary public and have it reviewed by the insurance company.c. OEdmond should require Jake to sign the surrender application on behalf of Emile before submitting the application to the insurer.d. OEdmond should obtain Jake's personal identification documents and attach them with the surrender application for the insurance company's reference.

Answered: ? ership of the insurance policy to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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? ership of the insurance policy to Jake before accepting his request to surrender the pol d true copy of the power of attorney from a notary public and have it reviewed by the ins sign the surrender application on behalf of Emile before submitting the application to the