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Life Insurance
?
Earl borrowed money at the bank to send his daughter to college. Instead of purchasing Credit Life insurance, he used an existing life insurance policy to secure the debt. This would be called a
assignment of ownership
collateral assignment
temporary assignment
change of beneficiary
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (B)
collateral assignment-transferring all or a part of the death benefit to another
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