Each type of life insurance has its own benefits and drawbacks, and policyholder preferences and circumstances make certain features more important to some individuals than to others. This table presents a series of statements relating to life insurance policies. Indicate which policies address the concern or desire expressed by each statement. Term Whole Universal
I want a large amount of coverage but can only pay a small amount in the near future.
I want flexibility in the amount I pay in premiums in each month .
If I decide to cancel my policy while I'm still alive, I want access to the cash value.
I want to use my life insurance as a savings vehicle as well.