Answer to Question #143252 in Finance for Anita

Question

Identify and explain two characteristics of whole life insurance which may not be found in term life insurance.

Answer 1

Covers one for life.one is entitled to get the benefits throughout her/his life unlike the life insurance which provide death benefits only. Also it can be purchased without a medical exam, but at a higher cost. Therefore, it is easier to get it despite your health condition unlike the life life insurance where health examination need to be carried out for one to get one.