Question

Sally took out a $50,000 life insurance policy. The $50,000 amount of coverage is called the:

Answer 1

Answer:

The $50,000 amount of coverage is called the Death benefit or face value.

Step-by-step explanation:

Consider the provided information.

Sally took out a $50,000 life insurance policy.

The face value, or death benefit is the amount of money a life insurance policy would pay upon the insured person's death to the beneficiary.

Hence, the $50,000 amount of coverage is called the Death benefit or face value.