A life insurance policy is a contract between the insurer and the policyowner. After the insured has died, the contractual arrangement is between the insurer and the beneficiary. What responsibilities does the insurer have to the insured's creditors?
A) Insurer is responsible for paying the insured's debts
B) Insurer is not responsible for the insured's debts
C) Insurer is responsible only if the policy specifies
D) Insurer's responsibility varies by state law
