Which of the following statements about life insurance is NOT accurate? a) permanent insurance puts a portion of the premium paid into investment which the insured then has the potential to cash in and recoup, whereas the premium paid for term insurance is simply a sunk cost for the insured . b) permanent insurance guarantees that the policy will pay out the face value to the beneficiary upon the death of the insured , whereas term insurance won't pay out anything at all once the term has finished. c) Term insurance is almost always less expensive than permanent insurance- both the monthly premium amount as well as the amount typically spent on insurance overall. d) Term insurance is simple life insurance policy that involves a less complicated contract with fewer provisions and exemptions , whereas permanent is the type of insurance that you must take care in reading the detailed fine print in the policy
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Which of the following statements about life insurance is NOT accurate?
a) permanent insurance puts a portion of the premium paid into investment which the insured then has the potential to cash in and recoup, whereas the premium paid for term insurance is simply a sunk cost for the insured .
b) permanent insurance guarantees that the policy will pay out the face value to the beneficiary upon the death of the insured , whereas term insurance won't pay out anything at all once the term has finished.
c) Term insurance is almost always less expensive than permanent insurance- both the monthly premium amount as well as the amount typically spent on insurance overall.
d) Term insurance is simple life insurance policy that involves a less complicated contract with fewer provisions and exemptions , whereas permanent is the type of insurance that you must take care in reading the detailed fine print in the policy
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