Describe whole life insurance.(1 point) Responses It is a common permanent life insurance policy, which lasts as long as the premiums continue to be paid, and the death benefit remains constant for the length of the policy. It is a common permanent life insurance policy, which lasts as long as the premiums continue to be paid, and the death benefit remains constant for the length of the policy. It covers the employee’s income and medical costs when they are hurt on the job and therefore are unable to work for a long time. It covers the employee’s income and medical costs when they are hurt on the job and therefore are unable to work for a long time. It is a type of permanent life insurance that offers flexibility on how to invest the cash value of the policy. It is a type of permanent life insurance that offers flexibility on how to invest the cash value of the policy. It is sponsored by the employer as part of benefits and provides protection to an employee while they cannot work and therefore cannot earn an income.
Whole life insurance is a common permanent life insurance policy that remains in effect as long as the premiums are paid. It provides a death benefit that remains constant for the duration of the policy. Unlike term life insurance, which only covers a specific period of time, whole life insurance offers lifetime coverage. It also has a cash value component that grows over time, allowing policyholders to borrow against it or use it as an investment. This type of insurance is not related to covering an employee's income or medical costs when they are unable to work due to an injury sustained on the job.
