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- What are the disadvantages of life insurance policy?
- Which of the following is a disadvantage of life insurance as security?
- Which type of life insurance allows policyholders to make their own investment decisions?
- Which type of insurance has no savings or investment features?
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What are the disadvantages of life insurance policy?
There are a few disadvantages involved with buying life insurance, including the fact that you may have to pay high premiums if you have a pre-existing medical condition. In case of a term insurance plan, the policyholder will not receive any maturity benefit if he/she survives the term.
Which of the following is a disadvantage of life insurance as security?
The biggest disadvantage of life insurance is the cost, which is more affordable than you might think.
Which type of life insurance allows policyholders to make their own investment decisions?
Variable Life Insurance. Variable life is a type of security that offers fixed premiums and a minimum death benefit. Unlike whole life insurance, its cash value is invested in a portfolio of securities. As the policyholder, you can choose the mix of investments from those the policy offers.
Which type of insurance has no savings or investment features?
Final expense insurance is a form of life insurance intended only to cover end-of-life expenses such as funeral and burial costs. The coverage is permanent in the sense that if you keep paying premiums, the policy will remain in effect, but there is no cash value or investment component to these policies.