Life insurance policy proceeds can be paid to a trustee upon the death of the insured. All of the following statements concerning payment of proceeds to a trustee are true EXCEPT
A) Use of a trustee provides flexibility with regard to the timing and amount of the payments.
B) Trustees are often used when the beneficiary is a minor child or an adult with diminished mental capacity.
C) The trustee is not permitted to accept a fee for rendering services.
D) The trustee does not guarantee investment results.
Answer: C
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