Which statement is true about term life insurance? (1 point) Responses Term life insurance is usually the most expensive option for a young policy holder. Term life insurance is usually the most expensive option for a young policy holder. Term life insurance policies are permanent. Term life insurance policies are permanent. Term life insurance premiums increase as a person ages. Term life insurance premiums increase as a person ages. Term life insurance pays benefits to named beneficiaries when the policy holder dies during the duration of the policy.
1 answer
The true statement about term life insurance is: Term life insurance pays benefits to named beneficiaries when the policyholder dies during the duration of the policy.
The other statements are incorrect; term life insurance is typically less expensive for young policyholders, is not a permanent policy, and premiums generally do not increase solely due to aging, but may increase if you renew the policy.
