Final answer:
Level term insurance provides a level amount of protection for a specified period, after which the policy expires. Option d
Step-by-step explanation:
Level term insurance provides a consistent amount of protection for a specified period of time, usually 10, 20, or 30 years. The coverage amount remains the same throughout the duration of the policy, and after the specified period, the policy expires.
For example, if someone purchases a 20-year level term insurance policy with a coverage amount of $500,000, they will have $500,000 of protection for the entire 20-year period. If they pass away during that time, the beneficiaries will receive the full $500,000. However, if the policyholder outlives the 20-year term, the policy will expire and no benefits will be paid. Option d