Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of term coverage on himself under the same policy. what kind of policy should q purchase?

Question

Business

Joey Roth

10 March, 13:53

Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of term coverage on himself under the same policy. what kind of policy should q purchase?

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Answers (1)

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Timothy Hunt · Answer 1

Q should purchase whole life insurance policy.

Explanation:

Since Q wants to get a permanent protection for his wife so whole life insurance policy is his safest best. This type of insurance is there for the entire lifetime and offer many benefits. The two major benefits of whole life policy include death benefit and accumulated cash savings. It pays a death benefit to the beneficiary when the person passes away. Accumulated cash value also serve the purpose of savings which you can also get while you are still alive. This very insurance basically has your entire life covered.