Final answer:
Tom should choose Term life insurance with level premiums as his best choice for managing life insurance premiums.
Step-by-step explanation:
Tom, the accountant who prefers a stable financial plan, should choose Term life insurance with level premiums as his best option for managing life insurance premiums.
Term life insurance provides coverage for a specific term or period, such as 10, 20, or 30 years, with level premiums that do not change throughout the term. This type of insurance offers a higher coverage amount for a lower premium compared to other types of life insurance.
Other options like Whole life insurance with fluctuating premiums, Universal life insurance with adjustable premiums, and Variable life insurance with investment-linked premiums may have higher premiums or more complex features that may not be suitable for Tom's preference for a stable financial plan.
Learn more about Managing life insurance premiums