All of the following statements about an ordinary (whole) life insurance policy are true, except:

Question

Quizplus · Accepted Answer

An ordinary (whole) life insurance policy does not necessarily pay the face amount if the insured lives to age 65. Rather, the policy provides lifetime coverage with a level premium and a buildup of cash value that can be used by the policyholder. The death benefit is paid to the beneficiary upon the insured's death.

All of the Following Statements About an Ordinary (Whole) Life