State RegulationsFL specificDifficulty 2/5
Priya is named secondary addressee on her father's Florida life policy after he moves away without leaving a forwarding address. Which statement is correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under Chapter 627, Florida Statutes, the secondary addressee's only role is to receive insurer notices - premium reminders, lapse warnings, and similar correspondence - when the policyowner's address cannot be found. The provision creates no ownership interest, no right to proceeds, and no right to borrow. Priya can alert her father that a payment is due, but she cannot exercise any rights of ownership under the policy.
Why the other options are wrong
- B) Ownership stays with the policyowner and changes only through an assignment the owner authorizes.
- C) Rights to the proceeds depend on the beneficiary designation, not on the secondary addressee provision.
- D) Only the policyowner (or an assignee with ownership rights) may take policy loans under the policy's loan provision.
Memory hook
She gets the mail, not the money or the keys.