Both provide financial compensation to the beneficiaries upon the policyholder's death.
They both are life insurances in which the beneficiary is paid a lump sum upon death of the insured person.
The term life insurance lasts only for a certain duratrion of time.
The whole life insurance covers the whole lifetime of the insured person.
Both insurances provide a lump sum to the beneficiaries upon the death of the insured person and don't cover the medical and outpatient surgery cost of the insured person. They are covered under health insurance. So, option A is false.
The whole life insurance covers the whole lifetime of the insured person. There is no such 25-year maximum duration. So, option B is false.
The term life insurance features no such cash value component as the whole life insurance. So, option C is incorrect.
The term life insurance provides financial compensation to the beneficiaries if the insured person dies during a specified time. Whole life insurance covers the entire lifetime of the insured person. Option D is, thus, correct.
So, both provide financial compensation to the beneficiaries upon the death of the insured person.
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