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An insured forgets to pay his insurance premium. Instead of the policy lapsing, the premium is paid by the company. This would suggest that a __________ policy was purchased.A. Whole LifeB. Decreasing
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An insured forgets to pay his insurance premium. Instead of the policy lapsing, the premium is paid by the company. This would suggest that a __________ policy was purchased.A. Whole LifeB. Decreasing termC. Level termD. Renewable term

User Ftnilsson
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Answer:

A) Whole Life

Step-by-step explanation:

A whole life policy is a type of insurance policy that is guaranteed to remain active as long as the insured lives, of course as long as the premiums are paid as well. Usually whole life insurance offers fixed premiums, fixed death benefits (for your beneficiaries) and cash value savings.

User Niranj Rajasekaran
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