Which of the following is a poor choice for the amount of protection offered for an individual?

Question

Quizplus · Accepted Answer

Credit life insurance only covers the outstanding balance of a loan or credit. It does not provide comprehensive protection for an individual's overall financial needs.

The best choice(s) would depend on the individual's specific needs and circumstances.

Term life insurance (B) provides coverage for a specified period and can be a cost-effective option for those needing temporary protection.

Endowment life (D) combines life insurance coverage with a savings component that matures at a specific point in the future, making it a good option for those with long-term financial goals.

Adjustable life (E) is a flexible form of life insurance that allows policyholders to adjust the coverage and premium payments based on their changing needs.

Group life (A) is typically provided through an employer and can be a cost-effective option, but the coverage amount may be limited and not sufficient for an individual's needs.

Which of the Following Is a Poor Choice for the Amount