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Beth has purchased a life insurance contract for herself and names Emily the beneficiary. Which of the following can Emily do as the beneficiary before

Beth has purchased a life insurance contract for herself and names Emily the beneficiary. Which of the following can Emily do as the beneficiary before Beth's death? I. assign or transfer the policy II. receive cash value and dividends III. borrow against the policy

II and III only.

III only.

None of these.

I and II only.

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