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Which of the following is one of the main characteristics of a whole-life insurance policy


Whole life insurance offers. Level premiums — The premiums you pay remain the same for the life of your policy, regardless of your age or health. Death benefits — Your beneficiaries receive the face amount of the policy upon your death.

Which one of the following is a characteristic of whole life insurance?

Compared to other forms of permanent coverage, a whole life policy has three defining characteristics: The level premium remains the same for life. The death benefit is guaranteed as long as the guaranteed premiums are paid. The policy includes guaranteed cash values that grow at a guaranteed rate.

What are the main features of whole life insurance quizlet?

It provides guaranteed death benefit protection for the insured's whole life. No matter when the insured dies, the policy pays the face amount stated in the policy. Under most whole life policies, the covered lifespan extends to age 120. It includes a guaranteed cash value that gradually builds inside the policy.

Which of the following are characteristics of whole life insurance except?

All of the following are characteristics of whole life insurance, EXCEPT: The cash value in a permanent life insurance policy is not a nonforfeiture benefit.

What are the 3 advantages of whole life insurance?

Whole life insurance builds cash value, provides permanent coverage, and can help build your family's wealth over the long term. These policies also offer more guarantees than other types of coverage, making them an option to consider for many people.




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  1. which of the following is one of the main characteristics of a whole-life insurance policy quizlet
Which of the following is one of the main characteristics of a whole-life insurance policy quizlet

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