Which of the following is an example of third-party ownership of insurance?

Third-party ownership of insurance occurs when an individual or entity owns a policy on the life of another person. In this scenario, group insurance is a clear example because a group policy is typically purchased by an employer or organization, who then provides coverage to its employees or members. The employer or organization owns the policy and pays the premiums, while the insured individuals are the employees or members, making it a distinct case of third-party ownership.

In contrast, a 401(k) is a retirement savings plan, which does not involve insurance on another party's life. A non-qualified annuity refers to a type of contract that provides regular payments in the future but does not inherently involve third-party ownership of life insurance. Similarly, a Modified Endowment Contract is a form of life insurance that has specific tax implications and also does not typically involve third-party ownership as it pertains to the insured individual. Thus, group insurance stands out as the best representation of third-party ownership in this context.