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

Term Life policies typically have a low outlay, meaning that the premiums are generally lower compared to Universal Life or Whole Life policies. Term Life policies also do not accumulate cash value, do not allow for loans against the policy, and do not take advantage of current interest rates. Additionally, the premium amount for a Term Life policy is generally fixed for the term of the policy.

When Compared with Universal Life Policies and Whole Life Policies,which