Ken is 50 years old and has never had a life insurance policy. He is looking for something affordable that will pay out upon his death within the next 30 years. What is most likely the best type of life insurance policy for Ken?

Question

Quizplus · Accepted Answer

Term insurance is the most suitable option for Ken as it provides coverage for a specific period of time (e.g., 30 years) and is generally more affordable than whole life insurance, which covers the insured for their entire life and includes a savings component. Health insurance is not relevant as it covers medical expenses, and suicide insurance is not a type of life insurance policy.

Ken Is 50 Years Old and Has Never Had a Life