Which of the following statements about the assignment of a life insur

Which of the following statements about the assignment of a life insurance policy is (are) true?

I. Under a collateral assignment, the policyowner assigns a life insurance policy to secure a loan.
II. Under an absolute assignment, only limited ownership rights in a policy are transferred.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: A