Question

In a key employee life insurance policy, the third-party owner can be all of the following EXCEPT:

a) The key employee's spouse
b) The key employee's child
c) The key employee's business partner
d) The key employee's best friend

Answer 1

Key employee life insurance policy and the third-party owner.

Step-by-step explanation:

In a key employee life insurance policy, the third-party owner can be all of the following EXCEPT:

1. The key employee's spouse
2. The key employee's child
3. The key employee's business partner
4. The key employee's best friend

A key employee life insurance policy is typically taken out by the employer to insure the life of a key employee. The purpose of the policy is to protect the employer from financial losses in case of the employee's death. The third-party owner is usually the employer or the business itself, as they are the ones who have an insurable interest in the employee.