Question

What is the main benefit of setting up a trust under the Married Women's Property Act for life insurance policies?

a.

To ensure the policyholder's control over the policy

b.

To allow the policy to be surrendered at any time

c.

To prevent the beneficiaries from accessing the benefits

d.

To secure the policy benefits from passing to future creditors

Posted under L05 Applications of Life Insurance IC38 Life Insurance Agent Exam

Answer: (d).To secure the policy benefits from passing to future creditors Explanation:The main benefit of setting up a trust under the Married Women's Property Act is to secure the policy benefits from passing to future creditors.

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Q. What is the main benefit of setting up a trust under the Married Women's Property Act for life insurance policies?
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