The purchase of term insurance is justified by which of the following circumstances?
I.The insured wants to save money through the policy for a specific need.
II.The insured has a temporary need for life insurance protection.

Question

Quizplus · Accepted Answer

Term insurance provides temporary coverage for a specified period of time, making it a suitable option for individuals with a temporary need for life insurance protection. It is not an investment vehicle for saving money for a particular need, as indicated in option I. Therefore, option II is the only circumstance that justifies the purchase of term insurance.

The Purchase of Term Insurance Is Justified by Which of the Following