Answer Happy

Each type of life insurance has its own benefits and drawbacks, and policyholder preferences and circumstances make certain features more important to some individuals than to others. The following table shows statements about life insurance policies. Indicate which policies address the concern or desire expressed by each statement. Check all that apply. Term life insurance Whole life insurance Universal life insurance I want a large amount of coverage but can only pay a small amount in the near future. U I want to use my life insurance as a savings vehicle as well. ■ L [ If I decide to cancel my policy while I'm still alive, I want access to the cash value. 0 [] n I want flexibility in the amount I pay in premiums in each month. N U U