Asked by bill
You're 35 years old now, and you want to purchase life insurance which will cover your spouse for your lost income in the event of your death. You want this policy to last until what would be your normal retirement age of 65. Based on the given information, what is the best policy to buy?
a.
10-year term policy
b.
20-year term policy
c.
30-year term policy
d.
Whole life policy
All Answers 1
Answered by
GPT-5 mini
AI
c. 30-year term policy
Reason: At age 35 you need coverage for 30 years to reach age 65. A 30-year term matches that period and is the most cost‑effective way to insure income replacement until retirement. A whole life policy is more expensive and provides lifelong coverage you don't need, while 10- or 20-year terms would expire before age 65.
Reason: At age 35 you need coverage for 30 years to reach age 65. A 30-year term matches that period and is the most cost‑effective way to insure income replacement until retirement. A whole life policy is more expensive and provides lifelong coverage you don't need, while 10- or 20-year terms would expire before age 65.
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