Question

This life insurance is used to pay off certain debts, such as auto loans, in the event that you die before the debts are paid in full. Which of the following is not the best buy for the amount of protection offered for an individual?
a. Group life
b. Term
c. Creidt life
d. Endowment life
e. Adjustable life

Answer 1

Answer:

Credit Life Insurance

Explanation:

Based on the description provided within the question it can be said that the life insurance that is in question is a Credit Life Insurance. Like mentioned in the question this is a life insurance policy that is designed to pay off the individual's debts in the unlikely scenario that the individual were to die. The value of this policy goes decreasing as the individual goes paying off the debts until both values are at zero. This includes auto loans, mortgages, bank loans etc.