Jones owned a life insurance policy, on which she paid all the premiums. Smith was named the beneficiary. Jones died and the insurance company...

Jones owned a life insurance policy, on which she paid all the premiums. Smith was named the beneficiary. Jones died and the insurance company refused to pay the insurance proceeds to Smith. An action by Smith against the insurance company for the insurance proceeds will be:1) successful because Smith is a third party donee beneficiary.2) successful because Smith is a proper assignee of Jones' rights under the insurance policy.3) unsuccessful because Smith was not the owner of the policy.4) unsuccessful because Smith did not pay any of the premiums.Select the correct answer from the choices above.Business LawAttached are the chapters of the book that this question is supposed to come from.