Final answer:
Option (b), Regan will receive the benefit from the accidental death and dismemberment policy after losing two limbs in an accident, since he is still alive and the policy covers such specific injuries.
Step-by-step explanation:
If Regan owns an accidental death and dismemberment policy for $100,000 and Maria is the beneficiary, in the case where Regan suffers the loss of limbs due to an accident, Regan is the one who will receive the benefit. This is because accidental death and dismemberment policies typically cover specific injuries suffered by the policyholder due to an accident, such as the loss of limbs, sight, or hearing, and provide payment for those injuries.
In this case, the benefit is not paid out to the heirs or the estate because Regan is still alive, and it is not paid to Maria because she would only receive the benefit in the event of Regan's accidental death, not injury.