Insurance that furnishes maximum protection for the period of coverage at minimum cost is

Question

Quizplus · Accepted Answer

Term insurance is specifically designed to provide maximum protection for the period of coverage at a minimum cost. This is because the coverage is for a fixed period of time, and premiums are generally lower compared to other types of life insurance such as whole life or limited-payment life insurance, which have a savings or investment component built into the policy. Term insurance is a good choice for those who need coverage for a specific period of time, such as while they are raising children or paying off a mortgage.  So, the correct choice is C.

Insurance That Furnishes Maximum Protection for the Period of Coverage