Question

What is the main difference between term assurance and whole life insurance?

a.

Term assurance is cheaper.

b.

Whole life insurance provides investment opportunities.

c.

Term assurance is a permanent policy.

d.

Term assurance is temporary, while whole life insurance is permanent.

Answer: (d).Term assurance is temporary, while whole life insurance is permanent. Explanation:The main difference between term assurance and whole life insurance is that term assurance provides temporary coverage, usually for a specified time period. In contrast, whole life insurance is a permanent life insurance policy that remains in force until the death of the insured and includes a savings or cash value component. Whole life insurance is designed for long-term financial protection and wealth accumulation.

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Q. What is the main difference between term assurance and whole life insurance?

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