The correct answer is: B. Whole life insurance
Whole life insurance is a type of permanent life insurance that provides both death benefit protection and cash value accumulation. The death benefit is paid to your beneficiaries if you die during the policy term, and the cash value can be used for a variety of purposes, such as retirement savings, college funding, or a financial cushion in case of an emergency.
Whole life insurance is more expensive than term life insurance because it provides both death benefit protection and cash value accumulation. Term life insurance, on the other hand, only provides death benefit protection.
Broad form insurance is a type of property insurance that covers a wide range of perils, such as fire, theft, and vandalism. It is typically less expensive than other types of property insurance, such as homeowners insurance, because it covers a smaller range of perils.
Health insurance is a type of insurance that covers the costs of medical care, such as doctor’s visits, hospital stays, and prescription drugs. It is typically required by employers and is available through the government and private insurers.
Term insurance is a type of life insurance that provides death benefit protection for a specific period of time, such as 10 or 20 years. It is less expensive than whole life insurance because it does not provide cash value accumulation.