You are considering the need for insurance.You desire a policy that provides permanent protection,has a fixed premium,and provides a fixed death benefit.What type of policy would you purchase?

Question

Quizplus · Accepted Answer

Whole life insurance is the only option that meets all the criteria - it provides permanent protection, has a fixed premium, and provides a fixed death benefit. Term insurance has a fixed premium and fixed death benefit, but it only provides coverage for a specific term (such as 10, 20, or 30 years). Fixed premium insurance is not a specific type of insurance but could refer to any policy that has a fixed premium, which could be either term or permanent. Universal life insurance provides permanent protection, but the premium and death benefit can vary based on investment performance. Therefore, C is the best choice.

You Are Considering the Need for Insurance