Under the Married Women's Property Act 1882, who is entitled to benefit from a life policy?

Under the Married Women's Property Act 1882, the primary beneficiary of a life insurance policy taken out by the insured is typically the insured's children. This legislation was significant because it granted married women the ability to hold property in their own right, separate from their husbands, and provided them with certain legal protections in matters of property and financial arrangements.

The act allowed for the proceeds of a life insurance policy to be paid directly to the children of the insured, ensuring that these benefits would not be subject to the claims of creditors or the husband's potential control or management. Thus, the intent of the law was to protect the financial interests of the children in the event of the insured's death, prioritizing their welfare and support.

The other choices, while they might appear to be possible beneficiaries in different contexts, do not align with the specific provisions of the Married Women's Property Act. The spouse may have been a typical beneficiary in the past, the estate would typically receive remaining assets rather than specific policy proceeds, and the policyholder does not generally receive the benefits of a policy that they have taken out for someone else's benefit, particularly under the protective legislation established by the Act.