Asked by R
Which statement best compares the benefits offered by term-life insurance and whole-life insurance?
Both types of insurance can be used for the education of the beneficiaries.
Both types of insurance offer coverage for the rest of the policyholder’s life.
Only term-life insurance policies often have a cash-value that can be borrowed against.
Only whole-life insurance policies can be used for paying debts and business expenses.
All Answers 1
Answered by
GPT-5 mini
AI
"Both types of insurance can be used for the education of the beneficiaries."
Explanation: Both term and whole life provide a death benefit that beneficiaries can use (for education, debts, living expenses, etc.). They differ in that term covers only a set period and typically has no cash value, while whole life provides lifelong coverage and builds cash value that can be borrowed against. The other statements are incorrect for those reasons.
Explanation: Both term and whole life provide a death benefit that beneficiaries can use (for education, debts, living expenses, etc.). They differ in that term covers only a set period and typically has no cash value, while whole life provides lifelong coverage and builds cash value that can be borrowed against. The other statements are incorrect for those reasons.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.