Asked by Derek Lehan on Jun 19, 2024
Verified
The ________ type of life insurance provides protection for the entire life of the insured and has a cash-surrender value.
A) Whole-life
B) Term-life
C) Surrender-life
D) Useful-life
E) Entire-life
Whole-Life Insurance
Life insurance that provides protection for the entire life of the insured person.
Cash-Surrender Value
The amount an insurance policyholder receives upon cancellation of a contract before its maturity or an insured event occurs.
- Acquire knowledge on the different insurance variants (including property, health, liability, life) and their foundational objectives.
Verified Answer
EA
Easy and Fast tricksJun 26, 2024
Final Answer :
A
Explanation :
Whole-life insurance provides coverage for the insured's entire life and includes a savings component, which builds cash value that the policyholder can borrow against or receive upon surrendering the policy.
Learning Objectives
- Acquire knowledge on the different insurance variants (including property, health, liability, life) and their foundational objectives.
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