Maria buys a life insurance policy for her husband, Fred. Of the following, which correctly describes the party legally bound to fulfill the policy's promise of paying benefits?

a. The insured

(b.) The insurer

c. The insurer and Maria

d. The insurer and Fred

Answer: B

State Insurance

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Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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What documentation grants express authority to an agent?

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