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Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering...

Ohio Department of Insurance OH-Life-Agent-Series-11-44 Full Course Access
Ohio Department of Insurance OH-Life-Agent-Series-11-44 View All Questions

Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their lives. If Joe dies first, the policy proceeds

A.

will not provide further insurance protection.

B.

must be shared equally by Rob and Joe's wife.

C.

will accumulate with interest until another brother dies and then be awarded to the surviving brother.

D.

must be awarded to Joe's estate.

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