Which of the following statements regarding the naming of a minor as life insurance beneficiary is NOT correct?

Which of the following statements regarding the naming of a minor as life insurance beneficiary is NOT correct?


A) The naming of a minor as beneficiary generally involves more legal issues and complications than naming an adult as beneficiary.

B) The youngest age at which an individual may be regarded as an adult for beneficiary purposes is age 18.

C) If an insurer retains policy proceeds because the beneficiary is a minor, it may elect to make limited payments to an adult guardian for the benefit of the minor beneficiary.

D) If the beneficiary is a minor, it is possible for the insurer to elect to retain the policy proceeds until the child reaches the age of majority.



Answer: B) The youngest age at which an individual may be regarded as an adult for beneficiary purposes is age 18.

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