Rodney and Toni are a young couple with two small children.They are doing well financially but their life insurance needs are high and their budget is tight.What type of life insurance will give them the most protection for their money?

Question

Quizplus · Accepted Answer

Term life insurance is the best choice for Rodney and Toni as it provides the most protection for their money. It offers coverage for a specific period of time, usually ranging from 1 to 30 years, and pays a death benefit to the beneficiaries if the insured person dies during the term of the policy. Term life insurance premiums are typically lower than other types of life insurance, making it a more affordable option for young families with tight budgets. However, it does not build up cash value like other types of life insurance.

Rodney and Toni Are a Young Couple with Two Small