An example of permanent insurance is ________ insurance, and an example of temporary insurance is ________ insurance.
A)term; variable life
B)term; whole life
C)whole life; variable life
D)whole life; term

Question

Quizplus · Accepted Answer

Permanent Insurance provides coverage for a lifetime and includes Whole Life, Universal Life, and Variable Life insurance. Whole Life comes with level premiums, death benefits, and cash values that continue until the insured's death.

On the other hand, Temporary Insurance, such as Term Life Insurance, provides coverage for a stated period, generally between 1 to 30 years, and does not have cash values. Therefore, the best choice is D, whole life for permanent and term for temporary insurance.

An Example of Permanent Insurance Is ________ Insurance, and an Example