A) Whole Life Insurance
B) Variable Universal Life Insurance
C) Term Life Insurance
D) Universal Life Insurance
E) Permanent Life Insurance
Correct Answer: C
Solution :
Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. It is contrasted to permanent life insurance such as whole life and universal life which guarantees coverage at fixed premiums for the lifetime of the covered individual unless the policy owner allows the policy to lapse.
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