Ordinary life insurance is another term meaning the same thing as:
A. term life insurance.
B. decreasing term insurance.
C. whole life insurance.
D. level term life insurance.
i think c?
Right.
Thanks again(:
You're welcome. :-)
To determine the correct answer, let's break down the options:
A. Term life insurance: This type of insurance provides coverage for a specific term or period of time. It does not accumulate cash value and typically pays out a death benefit if the insured individual passes away during the term.
B. Decreasing term insurance: This is a type of term life insurance where the death benefit decreases over time. It is often used to cover a specific debt or financial obligation that decreases in value over time.
C. Whole life insurance: This type of insurance provides coverage for the entire lifetime of the insured individual. It accumulates cash value over time and offers a death benefit when the insured person passes away.
D. Level term life insurance: This is another type of term life insurance where the death benefit remains the same throughout the term of the policy.
Considering the options given, the correct term that is synonymous with "ordinary life insurance" is C. Whole life insurance. This is because both refer to a type of life insurance that provides coverage for the entire lifetime of the insured and accumulates cash value over time.