Answered: If a life policy's beneficiary is… | bartleby

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 15DQ

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not use ai please

If a life policy's beneficiary is designated as revocable, which of the following is TRUE?
A. The beneficiary has a vested interest in the policy.
B. The beneficiary may return control of policy to the owner with written
approval.
C. The policyowner needs the beneficiary's permission to borrow against the
cash value.
D. The policyowner can change the beneficiary designation anytime without the
beneficiary's consent.

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