Question

Which of the following types of life insurance policies would be most appropriate for an insured who wants the maximum amount of permanent life insurance protection per dollar of annual premium, while being only secondarily interested in building savings?

	limited payment whole life
	single payment whole life
	yearly renewable term insurance
	continuous premium whole life

Answer 1

Answer:

1. Limited pay life insurance s for an individual who own a whole life insurance policy but chooses to pay for the total cost of their premiums for a limited number of years

2. Single payment whole life is kind of life insurance in which a large sum of cash is paid into the insruance poilicy in exchange for a death benefits that is fully guaranteed to remain paid up until you die.

3. A yearly renewable term insurance is a one year term life insurance policy this types of ploicy gives policyhlder a quote for the year the coverage is bought. At the same time next year, the insured will pay another annual premium or a person in the same situation.

4. It is also know as straight life insurance, this is a species of whole life insurance in which premiums are payable right up until the death of the insured / throughout the whole life.

Continuos payment whole life is better.