Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true?

Insurance

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Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true?

Options

a) The policy automatically converts to whole life after the 10-year period
b) The face amount will remain constant and the premium will increase over the 10-year period
c) The premium will remain constant and the face amount will increase over the 10-year period
d) The face amount and premium will remain constant over the 10-year period

Answer: d) The face amount and premium will remain constant over the 10-year period

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