I - In term life insurance premium increase with age no cash value. II- In whole life insurance high cost is involved if you surrender early. Usually no cash value for at least three to five years. So, may not meet short-term needs. III - Universal life insurance is also same a whole life and buyer assumes greater risk due to program flexibility. Low interest rates can affect cash value and premiums. These are the __________ of different types of life insurances.

Question

Quizplus · Accepted Answer

These statements describe the disadvantages of different types of life insurance, such as increasing premiums with age in term life insurance, high costs and lack of cash value in the early years of whole life insurance, and the risks associated with universal life insurance.

I - in Term Life Insurance Premium Increase with Age