Final answer:
The insurer is the one who ultimately determines if a life insurance policy with an owner other than the insured will be issued. They evaluate risks, decide terms, and provide the financial backing for the policy.
Step-by-step explanation:
Ultimately, the entity that determines if a life insurance policy with an owner other than the insured will be issued is B. The insurer. The insurer is responsible for evaluating potential risks, deciding on policy terms, and issuing the policy itself. While the policyowner applies for the insurance and the beneficiary is the one who will receive the payout in the event of the insured's death, it is the insurer that makes the final decision on the policy. Moreover, life insurance companies manage a large pool of funds from premiums paid by policyholders. These funds may be lent, and policyholders may also borrow against their own policies, with the understanding that such loans must be repaid with interest.