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3 July, 01:09

Jeremy Osteryoung is buying life insurance for a period of 20 years. It will pay a benefit to his beneficiaries only if he dies during this 20 year period. What type of life insurance has Jeremy purchased?

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  1. 3 July, 02:02
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    Term insurance.

    Explanation:

    Term insurance is intended to provide coverage to the insured for a certain period. Death benefit is paid only if the insured dies during the policy tenure; else noting is paid.

    The main purpose of taking such life insurance is to provide life cover to the policyholder.
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