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A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. What type of policy is this?

A. Ordinary life policy
B. Term to specified age
C. Limited pay whole life
D. Level term

Sagot :

GinnyAnswer

Final answer:

The type of policy described is a Limited pay whole life policy where premiums are paid for a specific period, and the death benefit is paid if the insured dies during that time.


Explanation:

C. Limited pay whole life

The type of policy described in the question is a Limited pay whole life policy. In this policy, the insured pays premiums only for a specific period (in this case, 20 years), and the death benefit is paid out if the insured dies during that premium-paying period. However, if the insured dies after the specified period, no death benefit is paid out.


Learn more about Life Insurance here:

https://brainly.com/question/1400638


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