IFSE Institute Life License Qualification Program (LLQP) LLQP Question # 47 Topic 5 Discussion

IFSE Institute Life License Qualification Program (LLQP) LLQP Question # 47 Topic 5 Discussion

LLQP Exam Topic 5 Question 47 Discussion:
Question #: 47
Topic #: 5

Danny purchases a $1,000,000 whole life insurance policy. He names his three daughters, Donna-Joe, Stephanie, and Michelle, as revocable beneficiaries with each receiving one-third of the death benefit.

If Michelle predeceases Danny, and Danny did not have a chance to modify his beneficiary designation, how will Danny’s death benefit be paid out?


A.

Donna-Joe and Stephanie will each receive $500,000.


B.

Donna-Joe and Stephanie will each receive $333,333, and Michelle's estate will receive $333,333.


C.

Donna-Joe and Stephanie will each receive $333,333, and Danny's estate will receive $333,333.


D.

Danny’s estate will receive the entire $1,000,000 death benefit.


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