Question

exam lesson name: personal finance
exam number: 700142rr
exam guidelines
exam instructions
question 19 of 20 :
select the best answer for the question.

1. with ______ insurance, the insured agrees to pay a specific premium each year until death.

a. half life
b. endowment life
c. whole-life
d. limited-payment
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Explanation:

To solve this, we analyze each option:

• Option A: "half life" is not a standard insurance term.
• Option B: Endowment life insurance combines insurance with a savings component, and the premium payment period is not necessarily until death.
• Option C: Whole - life insurance requires the insured to pay a specific premium each year until death. It provides lifelong coverage and has a cash - value component that grows over time.
• Option D: Limited - payment life insurance has a premium payment period that is limited (e.g., 10, 20 years), not until death.

So the correct option is C.

Answer:

C. whole - life