You are considering the need for insurance. You desire a policy that provides permanent protection, has a fixed premium, and provides a fixed death benefit. What type of policy would you purchase?

Question

Social Studies

Asher Baird

15 August, 17:56

You are considering the need for insurance. You desire a policy that provides permanent protection, has a fixed premium, and provides a fixed death benefit. What type of policy would you purchase?

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Answers (1)

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Steve Oneal · Answer 1

The policy would be Whole Life Insurance

Explanation:

Whole Life insurance is a type of permanent life insurance policy that covers the person permanently as long as a premium is paid and on time.

Because whole life insurance gives you fixed premiums and a fixed death benefit, you won't have to worry about increased premiums as you get older. Moreover, your loved ones will also know how much to expect when your life insurance benefit is paid out after you pass away.