As discussed in this topic's readings, the three major categories of life insurance are term, whole,...

As discussed in this topic's readings, the three major categories of life insurance are term, whole, and universal. Assuming the situation of a person who has graduated and has been employed for the past 3 years, or, if you have been employed for a number of years assume a person in your general situation, which do you feel would be the best choice for your life insurance needs. Explain why, providing references to support your position.

Expert Solution

My requirements could well be managed through universal life insurance policy as they are flexible in nature and they will also have lower premiums and they are uniform for the long period of time.

universal life insurance policy would be best for salaried employee who is looking for long term benefits with low premium and also with the investment savings element.

one of the major reason for selecting this kind of life insurance policies are because universal life insurance policy will always accumulate the overall cash value where as other life insurance policy does not account for this feature.

jeff jeffy answered 2 years ago

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