The most common type of permanent life insurance is the whole life policy.
a. true
b. false

True

Explanation: The most common type of permanent life insurance is whole life policy.

A whole life policy is designed to last for someone's entire life. Premiums "or deposits" are typically paid until age 65. These policies are designed to accumulate cash value in order to sustain the death benefit.  These policies are different than term insurance because term insurance is only designed for a specific period of time such as 5 or 10 years.

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