Question

What is one advantage of whole life insurance policies over term life insurance policies?

a.whole life insurance available to young people

b.whole life policyholders can borrow against the policy

c.whole life policyholders do not have to pay premiums

d.whole life insurance is less expensive

its financial literacy please help

Answer 1

b.whole life policyholders can borrow against the policy

Step-by-step explanation:

one advantage of whole life insurance policies over term life insurance policies is that whole life policyholders can borrow against the policy. This means that they can access the cash value of their policy while they are alive, which can be used for various purposes such as paying off debts, funding education, or supplementing retirement income. Term life insurance policies do not have any cash value and only provide a death benefit for a limited period of time..

I hope this helps