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Maxine meets with Toshiko, an insurance agent for United Life, to purchase a $10 million...

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Maxine meets with Toshiko, an insurance agent for United Life, to purchase a $10 million universal life insurance policy. Once United Life reviews Maxine's file, they agree to insure her for $3 million. United Life then contacts Extra Life Company, who agrees to insure Maxine forthe additional $7 million. Toshiko asks his supervisor Bob how the death benefit will be paid to Maxine's beneficiary when she dies.

A.

United Life and Extra Life will each directly pay the beneficiary.

B.

Extra Life will issue a cheque for $10 million.

C.

United will issue a cheque for $10 million.

D.

The full death benefit will be paid by Assuris.

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