Coverage on human lives is known as what type of insurance?

Coverage on human lives is known as what type of insurance?

• A. Cash value
• B. Estate
• C. Illustrations
• D. Life insurance

Answer: (D)

Coverage on human lives is life insurance. It provides a death benefit to named beneficiaries when the insured dies, helping with income replacement, final expenses, debts, and ongoing support for dependents. Other terms refer to different concepts: cash value is a savings component found in some permanent policies, estate involves transferring assets after death rather to taxes and wills rather than a policy type, and illustrations are projections used to show how a policy might perform. So the type of insurance that covers human lives and pays out upon death is life insurance.

Coverage on human lives is life insurance. It provides a death benefit to named beneficiaries when the insured dies, helping with income replacement, final expenses, debts, and ongoing support for dependents. Other terms refer to different concepts: cash value is a savings component found in some permanent policies, estate involves transferring assets after death rather to taxes and wills rather than a policy type, and illustrations are projections used to show how a policy might perform. So the type of insurance that covers human lives and pays out upon death is life insurance.