Kaamil meets with Omar, his insurance agent, to purchase a whole life insurance policy.

Vendor: IFSE Institute
Product: LLQP
Update on: Jul 22, 2025
Questions: 298

IFSE Institute LLQP Question Answer

Kaamil meets with Omar, his insurance agent, to purchase a whole life insurance policy. Kaamil wants to name his wife Ofra as the irrevocable beneficiary of the policy. Before proceeding, which of the following considerations should Omar CORRECTLY ask his client to reflect on?

Ofra will be able to make a cash withdrawal without Kaamil's consent.

Ofra will be able to withdraw funds from Kaamil's cash surrender value.

Kaamil can surrender the policy without obtaining Ofra's consent.

Kaamil will need to obtain Ofra’s consent if he would like to revoke her as a beneficiary.