A. The insured is covered during his or her entire lifetime.
B. The insured pays the premium until his or her death.
C. The insured pays a premium for a specified number of years.
D. The insured can borrow or collect the cash value of the policy.
2006-11-15 09:59:21 · 0 answers · asked by Adumu 2 in Education & Reference ➔ Homework Help
The answer is C. You pay for a certain # of years & are covered during that time.
Ron @ InsureMe http://www.insureme.com/landing.aspx?Refby=614505&Type=life
2006-11-16 04:42:23 · answer #1 · answered by Anonymous · 1⤊ 0⤋
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You asked "which of the following" but omitted the "following." Anyway, pick the answer that is something like, "life insurance for a limited time" For instance, I buy a policy for 1 year to cover my trip to another country during that year. At the end of the year, the policy expires. They keep my premium. If I die one year and one day later than the day I purchased it, too bad - I'm not covered. Term life is usually the cheapest kind. Those who sell insurance will tell you it's more important to have life insurance when you have a young family, than after you're retired and your kids are grown, because they won't (theoretically) be financially dependent on you any more. Let me know if this helps.
2016-03-27 02:20:23 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I don't think that any of them give the correct definition.
Term life insurance pays a lump sum ONLY IF the life assured dies during a specified term. Of course, the premiums have to be paid thoughout the term or until previous death. This type of policy is usually cheap but it does not acquire a surrender value.
2006-11-15 10:12:32 · answer #3 · answered by Charlie Babbage 5 · 2⤊ 0⤋
C. The insured pays a premium for a specified number of years.
2006-11-16 04:53:55 · answer #4 · answered by Anonymous · 3⤊ 0⤋
What is C, Alex?
Seriously, you are only buying coverage for the term specified. Anything that happens after that term lapses, unless you sign on for another term policy, ends.
2006-11-15 10:02:32 · answer #5 · answered by Robbie trd 4 · 1⤊ 1⤋
Not completely sure about this one
2016-07-28 01:56:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋