contestada

Select the statements accurately describing the advantages of having whole life insurance coverage versus carrying term life
insurance coverage.
es )
A)
Whole life insurance is substantially less expensive than term life
insurance
Whole life insurance coverage usually lasts for policyholder's entire
lifetime.
B)
C)
Whole life policies usually last for increments of ten, twenty, or thirty
years.
All whole life policies are available to anyone under the age of eighty years
old
D)
E)
Whole life policies normally have a savings component that can provide
cash value on the policy.

Respuesta :

Tundexi

The advantages of whole life insurance coverage over term life  insurance coverage:

  • its usually lasts for policyholder's entire  lifetime.
  • its normally have a savings component that can provide  cash value on the policy.

A whole life policy is a life policy which promises to provide benefit to life assured beneficiary and usually last for the life assureds' lifetime.

  • The term life policy is different from whole life policy because it is a limited time insurance policy and does not incorporate main benefit enjoyed under the whole life policy

  • Hence, the advantages of whole life insurance coverage over term life  insurance coverage is that its lasts for policyholder's entire  lifetime and have a savings component that can provide  cash value on the policy.

In conclusion, the Option B and E is correct.

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