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17 July, 01:08

Which one of the following types of insurance builds up no cash value? A. 20-payment life B. Term C. Straight-life D. Universal life

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  1. 17 July, 03:20
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    Answer

    The type of insurance that builds no cash value is B. Term

    Explanation

    Cash value insurance is one that provides a permanent insurance for life and has high premium rates with a requirement of a fixed level premium deposit. Examples of cash value insurance covers are the whole life, variable life and universal life insurance. Whole life insurance is also called the straight life/ordinary life insurance cover. When premium payment term is limited to 20 years it is called 20-payment life.
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