Question

An insurance company may override a variable life policyholder's right to:

I. Vote to change the investment policies of the separate account
II. Receive a proxy, if available
III. Reject the selection of an investment adviser to the separate account

a. I only
b. II and III only
c. I, II, and III
d. None of the above

Answer 1

The insurance company may override a variable life policyholder's right to receive a proxy and reject the selection of an investment adviser to the separate account. The policyholder typically does not have voting rights to change investment policies.

Step-by-step explanation:

The question pertains to a variable life insurance policy and what rights an insurance company may override concerning the policyholder. Variable life insurance policies are investment-driven and include a separate account for investment purposes similar to a mutual fund. These accounts are subject to a different set of regulations compared to traditional life insurance policies

Concerning the specific rights listed:

The correct answer to the question is therefore:

b. II and III only