Question

Jeff has limited financial resources but finds himself in a position where he needs a good deal of protection. A __________ would probably best suit his needs at this time.

A) Term life insurance policy

B) Whole life insurance policy

C) Universal life insurance policy

D) Variable life insurance policy

Answer 1

A term life insurance policy would best suit Jeff's needs given his limited financial resources and need for protection.

Step-by-step explanation:

The best type of life insurance policy for Jeff, who has limited financial resources but needs a good deal of protection, would likely be a Term life insurance policy. Term life insurance provides coverage for a specific term or period, typically 10, 20, or 30 years, and is generally more affordable than other types of life insurance policies. It does not accumulate cash value like whole life insurance policies, but it provides the necessary protection for Jeff's current needs without the added costs.