Asked by Tommy Dorfman on Jun 18, 2024
Verified
Premiums for whole-life insurance are generally smaller than those for term-life insurance.
Whole-life Insurance
A type of permanent life insurance policy that covers the insured's entire lifetime and includes an investment component known as the policy's cash value.
Term-life Insurance
A type of life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term.
Premiums
Periodic payments made to an insurance company in exchange for coverage and protection against financial loss or damage.
- Familiarize yourself with the varieties and goals of assorted insurance payments, including premiums and co-payments.
Verified Answer
Learning Objectives
- Familiarize yourself with the varieties and goals of assorted insurance payments, including premiums and co-payments.
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