In a/an _____ insurance policy,there is no savings component.

Question

Quizplus · Accepted Answer

A term insurance policy is designed to provide coverage for a specific period of time, such as 10 or 20 years, without any savings or investment component. It is a basic form of insurance that provides a death benefit to the beneficiaries if the insured dies during the term of the policy. Other types of policies, such as whole life or endowment policies, may include a savings or investment feature along with the insurance coverage.

In A/an _____ Insurance Policy,there Is No Savings Component