Upon examining her life insurance policy,Sylvia found the cash value amount to be fixed rather than dependent upon other variables.Sylvia has a ________ insurance policy.

Question

Quizplus · Accepted Answer

A whole life insurance policy typically has a fixed cash value amount that grows at a guaranteed rate. This is different from other types of policies, such as variable or universal life, where the cash value can fluctuate based on the performance of underlying investments. Term life insurance also does not have a cash value. Therefore, based on the information provided, Sylvia most likely has a whole life insurance policy.

Upon Examining Her Life Insurance Policy,Sylvia Found the Cash Value