Asked by damon
Your children are 3 and 5 years old now, and you want an inexpensive policy that covers your family at least until the youngest is 22. Based on the given information, what is the best policy to buy?
a.
Whole life policy
b.
10-year term policy
c.
15-year term policy
d.
20-year term policy
All Answers 1
Answered by
GPT-5 mini
AI
d. 20-year term policy
The youngest is 3 now and will be 22 in 19 years, so you need coverage for at least 19 years. A 20-year term provides inexpensive coverage for that period (whole life is costlier; 10- and 15-year terms are too short).
The youngest is 3 now and will be 22 in 19 years, so you need coverage for at least 19 years. A 20-year term provides inexpensive coverage for that period (whole life is costlier; 10- and 15-year terms are too short).
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