What is the primary advantage of naming a specific individual as life insurance beneficiary rather than naming 'the estate'?
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A
The death benefit is taxed at a lower rate when paid to a named individual
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B
The death benefit bypasses probate and is paid directly and privately to the beneficiary
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C
The face amount of the policy automatically increases when a named beneficiary is designated
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D
The policy premium is reduced because the insurer faces lower administrative risk