When compared with Universal Life policies and Whole Life policies, which of the following is typically an advantage of a Term Life policy?

Question

Quizplus · Accepted Answer

The low outlay is typically an advantage of a Term Life policy when compared with Universal Life policies and Whole Life policies. Term Life policies do not have cash value accumulation, do not allow you to take a loan against the policy, and do not take advantage of current interest rates. However, the premium amount for Term Life policies is generally fixed.

When Compared with Universal Life Policies and Whole Life Policies