Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 79 Topic 8 Discussion
Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 79 Topic 8 Discussion
Designating a beneficiary "by class" means identifying a group (e.g., "my children") rather than naming specific individuals (C).
Option A (business life insurance) is unrelated to class designation.
Option B (no primary beneficiary) is incorrect; a class can still be primary.
Option D (unrelated beneficiaries) is not a requirement of class designation.
The Virginia study guide notes that a class designation identifies beneficiaries by a category (e.g., "spouse" or "heirs") rather than specific names, offering flexibility. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Beneficiary Designations."
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