IFSE Institute LLQP Exam - Topic 2 Question 38 Discussion

Question

Kaamil meets with Omar, his insurance agent, to purchase a whole life insurance policy. Kaamil wants to name his wife Ofra as the irrevocable beneficiary of the policy. Before proceeding, which of the following considerations should Omar CORRECTLY ask his client to reflect on?

Cammy · Accepted Answer

D) Kaamil will need to obtain Ofra's consent if he would like to revoke her as a beneficiary.

Cammy · Answer

A) Ofra will be able to make a cash withdrawal without Kaamil's consent.

Cammy · Answer

B) Ofra will be able to withdraw funds from Kaamil's cash surrender value.

Cammy · Answer

C) Kaamil can surrender the policy without obtaining Ofra's consent.