Term life insurance covers you for a set time period. For example, you may choose a 20- or 25-year term policy. Permanent life insurance covers you as long as your premiums are paid, which can effectively translate to lifetime coverage.

What are the 3 different types of insurance coverage you can purchase for your vehicle?

Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.

Which is true about a term life insurance policy?

Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? Which of these riders will pay a death benefit if the insured’s spouse dies?

Which is type of life insurance policy pays the face amount?

Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? Joe has a life insurance policy that has a face amount of $300,000. After a number of years, the policy’s cash value accumulates to $50,000 and the face amount becomes $350,000.

What kind of life insurance policy should P purchase?

P is looking to purchase a life insurance policy that will pay a stated monthly income to his beneficiaries for 20 years after he dies and a lump sum of $20,000 at the end of that 20 year period. What type of policy should P purchase? Family Maintenance policy

Which is an example of an insurance policy?

Another example is insurance cover for specific diseases. For instance, if your area is prone to water-borne diseases, such as cholera, you can pick a policy that covers cholera treatment and all associated costs for a 1-year period.