Renewable term and decreasing term are types of whole life policies.

Question

Quizplus · Accepted Answer

Renewable term and decreasing term are not types of whole life policies. They are types of term life policies. Whole life policies provide coverage for the entire life of the insured, while term life policies provide coverage for a specific term or period of time. Renewable term policies can be renewed for additional terms, while decreasing term policies provide coverage that decreases over time.

Renewable Term and Decreasing Term Are Types of Whole Life