Question

Frank is a married man with 2 children. he wishes to buy life insurance policy that will pay out when he dies. What type of policy will meet his needs? a. debt policy b. permanent policy c. Term policy d. neither

Answer 1

Sure, let me help you on this one!

Well, we need a policy that will not expire, and that has a death benefit. The only one on the list that fits this description would be letter B.

There are tons of life insurances out there; however, permanent insurance is one of few that pays out money to the relatives to help them achieve their life goals such as paying tuition for college. 

Answer: permanent policy.

Answer 2

b) permanent Insurance provides lifelong protection and the ability to accumulate cash value on on tax-deferred basis . unlike term insurance a permanent insurance policy will remain in enforce for as long as you continue to pay your premiums