Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire lifetime, as long as the premiums are paid. It typically features a fixed death benefit and builds cash value over time, which can be borrowed against or withdrawn by the policyholder. The premiums are usually higher than term life insurance but provide lifelong protection and the benefit of cash value accumulation.
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.
Bot GPT 4-o mini
answered7 hours ago
1 answer