n NISM Certifications
NSM General NISM
Medium

When does ownership of a life insurance policy change due to assignment?

Practice question from IC 38 Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Policyholder cancels nomination

  2. B

    Assignee advances a loan against the policy

  3. Rights, title, and interest in the policy are transferred to another person

    Correct answer

  4. D

    Insurance company agrees to provide a policy loan

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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