Question

You're 35 years old now, and you want to purchase life insurance which will cover your spouse for your lost income in the event of your death. You want this policy to last until what would be your normal retirement age of 65. Based on the given information, what is the best policy to buy? a. 10-year term policy b. 20-year term policy c. 30-year term policy d. Whole life policy Please select the best answer from the choices provided A B C D

Answer 1

Answer:

c. 30-year term policy

Explanation:

If I am 35 years old now, and want to purchase life insurance which will cover my spouse for my lost income in the event of your death; and if I want this policy to last until what would be your normal retirement age of 65.

Based on the given information, the best policy to buy is a 30-year term policy because logically that adds up as 30 + 35 = 65 years.

A 30-year term policy means the policy expires 30 years after it began.  Generally, a 30-year term is the maximum length of coverage offered, and is usually available to those within the ages 18 to 50.