Shelly is considered to be terminally ill and has decided to sell her life insurance policy in exchange for living benefits to fulfill some final comforts and expenses before her death. In selling her life insurance policy, Shelly is referred to as a(n)_________and she will receive a percentage of her life policy's face amount in exchange for ownership of her policy.
1) beneficiary
2) insured
3) policyholder
4) annuitant