Jim is a single father and the owner and insured of a whole life insurance policy. Jim named his two children, Allison and Kelly, as primary beneficiaries with his mother as contingent beneficiary. When Jim dies, Allision is 21 and Kelly is 15; Jims mother is 68. How will the insurer settle the death claim? (Search Chapter 1)

• a. Allison will receive the full death benefit because Kelly is a minor.
• b. Allison will receive half the death benefit, and Jims mother will receive the other half.
• c. Allison will receive half the death benefit and Jims mother will receive Kellys half to hold until Kelly reaches age 18 (the age of majority in her state.).
• d. Allison will receive half the death benefit, and the insurer will hold Kellys half pending appointment of a guardian or until Kelly turns 18 (the age of majority in her state).