Other Than Life (OTL) Practice Exam 2025 – All-In-One Guide to Exam Success!

The correct answer is that any person to whom any part of the insurance money is payable may give notice when a loss occurs. This encompasses a broader group than just the insured or their agent, recognizing that individuals who have a financial interest in the insurance can also notify the insurer about a claim. This allows for a more flexible and accessible process, ensuring that all parties with a stake in the outcome of a claim can act to inform the insurer promptly, which is crucial in the insurance process for the timely handling of claims.

The other options are more restrictive. While the agent of the insured can certainly give notice, this does not account for other stakeholders who might also want or need to notify the insurer. Limiting the notice solely to the insured excludes others who may have a legitimate claim to the insurance payout. The statement that the insurance agent and the agent of the insured are the same is misleading, as they can be different entities with distinct roles. Thus, recognizing that notice can be given by any eligible party promotes a smoother claims process.