Tim purchased a 10-payment whole life insurance policy 15 years ago. T
Tim purchased a 10-payment whole life insurance policy 15 years ago. Tim would like to donate this paid-up policy to a charity. Under which policy provision can Tim transfer all ownership rights in the policy to the charity?
A) absolute assignment
B) extended term nonforfeiture option
C) reinstatement
D) collateral assignment
ANSWER
Answer: A
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