Question

What is the primary purpose of whole life insurance?

a.

To provide coverage for a specified time period.

b.

To provide coverage for the entire lifetime of the insured.

c.

To accumulate a cash value for the insured.

d.

To invest in securities for the insured.

Posted under IC 89 Management Accounting

Answer: (b).To provide coverage for the entire lifetime of the insured. Explanation:The primary purpose of whole life insurance is to provide coverage for the entire lifetime of the insured.

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Q. What is the primary purpose of whole life insurance?
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