A 42-year-old executive wants to purchase life insurance that will allow for increases or decreases to coverage as his/her needs

Question

3 years ago

15

A 42-year-old executive wants to purchase life insurance that will allow for increases or decreases to coverage as his/her needs

change. Which of the following policies will best meet this need?
A) Endowment at Age 75
B) Universal Life
C) Graded Benefit Whole Life
D) Modified Whole Life

Business

1 answer:

iris [78.8K] · Answer 1 · 2022-03-09T02:38:46+03:00

Answer:

B) Universal Life

Explanation:

UNIVERSAL LIFE INSURANCE is a type of insurance which is very flexible because it enables a person or an individual to pay monthly insurance fee in which the fee will be divided into two different part where one of the fees will cover the individual life insurance and the second one will go into the person saving and investment account .

Secondly UNIVERSAL LIFE enables the holder of the policy to choose how much premium he or she wishes to pay.

Thirdly UNIVERSAL LIFE INSURANCE is an insurance that tend to last for the whole entire life of the policy holder reason been that the insurance is constant and it is everlasting meaning it does not change.

Therefore based on the information given about the 42 years old Executive the policies that will best meet this need will be UNIVERSAL LIFE INSURANCE