Whole life insurance is designed to provide
A)protection only.
B)savings only.
C)savings and loan value.
D)protection and savings.
E)loan value only.

Question

Quizplus · Accepted Answer

Whole life insurance is designed to provide both protection and savings. The policyholder pays premiums that provide coverage for the duration of their life, and a portion of those premiums goes into an investment account that builds cash value over time. This cash value can be accessed through loans or withdrawals, providing a source of savings.

Whole Life Insurance Is Designed to Provide