Question

What is the primary purpose of whole life insurance contracts?

a.

To provide survival benefits to the policyholder

b.

To accumulate savings over time

c.

To provide a lump sum payment to family members in the event of the policyholder's death

d.

To offer health coverage to the policyholder

Answer: (c).To provide a lump sum payment to family members in the event of the policyholder's death Explanation:The primary purpose of whole life insurance contracts is to provide a lump sum payment to family members upon the policyholder's death.

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

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