Different Types of Life Insurance

1 / 5

1. Whole life insurance is a _______________ type of insurance product

1. Temporary

2. Permanent

2 / 5

2. Whole life insurance provides a death benefit for:

1. the insured's whole life

2. A set number of years (usually 10, 15, 20 or 30)

3. Until retirement

3 / 5

3. In regards to the premiums on whole life insurance policies, which statement is correct:

1. Premiums are designed to remain fixed, decrease or even stop over the life of the policy

2. Premiums start out low and increase during the later years of the policy

3. Premiums are renegotiated each year to reflect the insured's current age

4 / 5

4. The cash values of a whole life insurance policy can be used by business owners for business purposes and, in some cases, can provide the business owner with an interest deduction.

1. True

2. False

5 / 5

5. Which answer(s) are true. Whole life insurance...

1. Is a guaranteed contract with tax-deferred growth

2. Builds guaranteed cash value that is readily accessible

3. Can be customized to meet specific needs and affordability

4. Provides guaranteed protection as long as premiums and loan interest is paid

5. All of the above

Your score is

0%

Different Types of Life Insurance

Recent Podcasts

Popular Solutions

Featured Videos