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 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 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 sponsored by the employer as part of benefits and provides protection to an employee while they cannot work and therefore cannot earn an income.
(1 point) Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire life, as long as the premiums are paid. It offers a guaranteed death benefit, cash value accumulation, and fixed premiums. This type of insurance provides financial protection for the insured's loved ones upon their death and can also serve as a tool for wealth accumulation and estate planning.
