Retirement and Other Insurance Concepts
In a corporate key-person life insurance arrangement, who is the policyowner, premium payor, and beneficiary?
Answer and explanation
Answer: A. Key-person insurance is owned by, paid by, and payable to the employer to compensate for financial loss upon a key employee's death.Source: NAIC Business Insurance Guide — PDF page 6, Key Person Insurance
More retirement and other insurance concepts questions
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