Digital Court Reporting Practice Exam

What is a key characteristic of an Ordinary (Straight) Whole Life insurance policy?

Premiums increase annually. Coverage lasts for a specific term, typically 10 or 20 years. Premiums remain level and are paid for the insured's entire life, with coverage also lasting for life. The policy does not build cash value.

Correct Answer:

Premiums remain level and are paid for the insured's entire life, with coverage also lasting for life.

Explanation:

Ordinary (or Straight) Whole Life insurance provides coverage for the insured's entire life. A key feature is that the premiums remain level and are typically paid for the duration of the insured's life, as long as the policy is in force.

Access more questions from this quiz

Continue to Digital Court Reporting Practice Exam for more practice questions and the full quiz experience.

Access More Questions