Life Insurance Policies: Ownership Rights & Options

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is NOT an ownership right in a life insurance policy?

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1. Which of the following is TRUE about the owner's right to change a beneficiary in an insurance policy?

2. In which of the following situations would an owner NOT consider canceling or surrendering a life insurance policy?

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About This Quiz & Worksheet

You can quickly see what you know about life insurance policies using the quiz and worksheet. Ownership of these policies and their regulations are topics you'll see on the quiz.

Quiz & Worksheet Goals

You can assess your understanding of:

  • Ownership rights in a life insurance policy
  • The cons of transferring ownership of a life insurance policy
  • Owner policy provision changes in a life insurance policy
  • The owner's right to change a beneficiary in an insurance policy
  • When an owner would consider cancelling a life insurance policy

Skills Practiced

  • Interpreting information - verify that you can read information about situations where an owner might cancel a life insurance policy and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the lesson on life insurance ownership benefits
  • Information recall - access the knowledge you have gained about the cons of transferring ownership of a life insurance policy

Additional Learning

Gain more insights quickly about these policies using the lesson named Life Insurance Policies: Ownership Rights & Options. You'll get to cover the following tasks:

  • Define beneficiary
  • Understand how life insurance works
  • Examine the purpose of transferring ownership of a life insurance policy
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