Which of the following statements pertaining to life policy assignment is NOT correct?
A) To secure a loan, the policy temporarily can be transferred to the lender as security for the loan.
B) The life insurance company assumes no responsibility for the validity of an assignment.
C) The policyowner must obtain approval from the insurance company before a policy can be assigned.
D) The policyowner must notify the company in writing of any assignment."
Ans: C) The policyowner must obtain approval from the insurance company before a policy can be assigned.
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