The type of life insurance that is "straight insurance" for a fixed period of time is:

Question

Quizplus · Accepted Answer

Term life insurance provides coverage for a fixed period of time (typically 10, 20, or 30 years), and does not include any investment or savings component. It is considered "straight insurance" because the premium paid goes solely towards the death benefit, and there is no cash value component. This makes it a more affordable option for those who want to ensure their loved ones are protected financially in the event of their unexpected death. Double indemnity life, universal life, whole life, and variable life all have additional features such as investment opportunities or a savings component.

The Type of Life Insurance That Is "Straight Insurance" for a Fixed