Question

Describe whole life insurance.(1 point) Responses It is a type of permanent life insurance that offers flexibility on how to invest the cash value of the policy. It is a type of permanent life insurance that offers flexibility on how to invest the cash value of the policy. It is a common permanent life insurance policy, which lasts as long as the premiums continue to be paid, and the death benefit remains constant for the length of the policy. It is a common permanent life insurance policy, which lasts as long as the premiums continue to be paid, and the death benefit remains constant for the length of the policy. It is sponsored by the employer as part of benefits and provides protection to an employee while they cannot work and therefore cannot earn an income. It is sponsored by the employer as part of benefits and provides protection to an employee while they cannot work and therefore cannot earn an income. It covers the employee’s income and medical costs when they are hurt on the job and therefore are unable to work for a long time.

Answer 1

Whole life insurance is a type of permanent life insurance that offers a death benefit that remains constant for the duration of the policy, as long as the premiums continue to be paid. This policy also has a cash value component that grows over time and can be invested, providing flexibility to policyholders. It is not typically sponsored by employers as part of benefits or designed to cover medical costs or income replacement for work-related injuries.