Which of the following statements about life insurance is NOT correct?
A) Life insurance is not a personal contract between the insurer and insured.
B) A policyowner must notify the beneficiary before transferring ownership.
C) A policyowner must notify the insurer in writing to transfer a policy.
D) If a policy is transferred, the new owner receives all of the rights of policy ownership."
Ans: B) A policyowner must notify the beneficiary before transferring ownership.
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