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Problem 1: Following Tony's untimely death, the executor of his estate initiates the claim for his life insurance benefit and provides adequate evidence to the insurer that the claim is payable. However, the beneficiaries of the policy dispute one another's claim to the benefit and take the case to the courts. Which of the following CORRECTLY describes how the insurer may proceed?
a) The insurance company may pay the benefits into court.b) The insurance company may pay the benefit within 60 days.c) The insurance company may deny the claim based on the beneficiary dispute.d) The insurance company may pay the benefit to the executor who will determine the rightful beneficiary.
Financial Statement Analysis and Preparation
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