Judy wants to purchase whole life insurance, but cannot afford straight life insurance premiums. Her agent recommends she purchase economatic whole life. If Judy wants $500,000 of whole life coverage, which of the following is a possible arrangement?
a Judy pays lower premiums initially, but they increase over time.
b Judy pays a level premium for the entire policy duration.
c Judy pays flexible premiums based on her financial situation.
d Judy pays premiums only if she needs to make a claim.
