________ is a form of life insurance that provides both a savings plan and pure insurance coverage.
A) Term life insurance
B) Growth-centered life insurance
C) Whole life insurance
D) Multiyear level-premium insurance

Question

Quizplus · Accepted Answer

Whole life insurance provides both a savings plan and pure insurance coverage. It is a type of permanent life insurance, meaning it lasts for the duration of the insured's life as long as the premiums are paid. A portion of the premiums are invested by the insurance company to create a cash value that grows over time and can be accessed by the policyholder through loans or withdrawals. Whole life insurance is often more expensive than term life insurance but offers more benefits, including the ability to accumulate tax-deferred savings and a guaranteed death benefit.

________ Is a Form of Life Insurance That Provides Both