3-56 An insurance policy that often is the least expensive to the insured because of the policy does not include a savings plan is called

Question

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Term life insurance policies do not include a savings component, which means that they can often be the least expensive option for the insured compared to policies like whole life or universal life. This is because the premiums paid into the policy only go towards the death benefit, rather than being split between the death benefit and a savings component.

3-56 an Insurance Policy That Often Is the Least Expensive