Answered

Match the types of life insurance with their descriptions.

1. Whole Life
2. Indexed Universal Life
3. Universal Life
4. Term Life

A. Plan that earns interest income but has a higher risk of losing potential interest
B. Plan that covers a person for a certain period of time
C. Plan that builds wealth and pays a death benefit
D. Plan that covers someone for his or her entire life



Answer :

GinnyAnswer

Final answer:

Term life insurance vs. whole life insurance explained.


Explanation:

Whole life insurance: Plan that builds wealth and pays a death benefit.

Indexed universal life: Plan that earns interest income, but has a higher risk of losing potential interest.

Universal life: Plan that covers a person for their entire life.

Term life: Plan that covers a person for a certain period of time.

Term life insurance is often considered a better option than whole life insurance policies because it offers pure life protection without cash value accumulation, making it more cost-effective for many individuals.


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