Which of the following is another name for permanent insurance

Permanent life, often called whole life insurance or cash value life insurance, provides coverage for the insured person's lifetime as long as premium payments are in good standing.

What is another name for permanent insurance?

In fact, permanent insurance is often referred to as cash-value insurance because these types of policies can build cash value over time, as well as provide a death benefit to your beneficiaries.

What type of insurance is permanent?

Permanent life insurance refers to coverage that never expires, unlike term life insurance. Most permanent life insurance combines a death benefit with a savings component. Whole life and universal life insurance are two primary types of permanent life insurance.

What is another name for term insurance?

Term life insurance, also known as pure life insurance, is a type of death benefit that pays the heirs of the policyholder throughout a specified period of time.

Which of the following is also known as permanent insurance quizlet?

Whole life is the most common type of permanent insurance. Level Premium, Death benefit, Cash Value (Non-forfeiture Value), Living Benefits. Also known as ordinary life or continuous premium whole lfie, is the basic whole life policy.