Which statement is true regarding a minor beneficiary

Have you ever struggled to answer the question “which statement is true regarding a minor beneficiary” in relation to the concept of Insurance? There’s no need to worry about it anymore. This post contains the correct answer to your question.

Which statement is true regarding a minor beneficiary

Options:

  1. Normally, the death proceeds are required to be held in trust until the beneficiary reaches the age of 21
  2. Normally, a guardian is required to be appointed in the Beneficiary clause of the contract
  3. The minor must pay the debts of the insured’s estate before receiving any of the proceeds
  4. The minor is entitled to receive the death proceeds immediately

The Correct Answer Is:

  • Normally, a guardian is required to be appointed in the Beneficiary clause of the contract

Conclusion

The answer to your question “which statement is true regarding a minor beneficiary” should now be clear for you. I appreciate you coming here to find the answer to your question and best wishes for your preparation related to various Insurance topics

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