Abby purchased a life insurance policy and named the following as beneficiaries: her

husband, Ralph, is the primary beneficiary; her two children are contingent beneficiaries; and

her church is the remainder beneficiary of her estate. How would the proceeds of Abby's policy

be paid if Ralph is living at her death but both of her children predecease her?

a$.$ All of the proceeds will be payable to her estate.

b$.$ The church will receive $100$ percent of the proceeds.

c$.$ Ralph will receive one$-$half of the proceeds, and the church will receive the other half.

d$.$ Ralph will receive $100$ percent of the proceeds.

Sean was traveling through Europe when he realized that he forgot to pay his monthly life

insurance premium. Which of the following provisions in the policy will help to keep the policy

in force until he pays the premium?

a$.$ exchange provision

b$.$ free$-$look provision

c$.$ grace period

d$.$ incontestability provision