Final answer:
Life Insurance companies are NOT the fastest growing financial intermediary in the U.S.
Step-by-step explanation:
Life Insurance companies are NOT the fastest growing financial intermediary in the U.S. The statement is FALSE.
A financial intermediary is a bank or any institution that acts as a middleman between savers and borrowers. While life insurance companies can act as financial intermediaries by accepting premiums from policyholders and investing the funds, they are not the fastest-growing financial intermediary.
Banks, credit unions, and other financial institutions that offer various banking services, such as savings accounts, loans, and investment opportunities, are considered financial intermediaries.