Author Question: Life insurance provides compensation to named beneficiaries when the insured dies. Whole life insurance: (Read 187 times)

charchew · **on:** Aug 7, 2021

Life insurance provides compensation to named beneficiaries when the insured dies. Whole life insurance:
◦ is a mechanism by which businesses can supply health and disability insurance to their employees.
◦ provides income to the insured when because of accident or sickness the insured can no longer work.
◦ involves significantly lower premiums but only pays compensation to beneficiaries if death of insured occurs before age 65.
◦ involves a premium paid strictly to insure against the death of the insured.
◦ involves a certain investment aspect as well as life insurance coverage.

qytan · **Reply #1 on:** Aug 7, 2021

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