Assume you are 28 years old and wish to buy term insurance terminating at the age of 50. Which type of policy will charge you a constant premium until the age of 50?

Question

Quizplus · Accepted Answer

Straight annual term, ten-year renewable term, and five-year renewable term policies typically adjust premiums at the end of each term, reflecting the insured's increased age and associated risk. Decreasing term insurance focuses on reducing the death benefit over time, not necessarily offering a constant premium. None of the options listed explicitly guarantee a constant premium until the age of 50 without adjustment for age or other factors.

Assume You Are 28 Years Old and Wish to Buy