MANAGEMENT

Detailed explanation-1: -The term life insurance policy covers the policyholder for a set period of time by charging a premium for that period of time. A term life policy typically has lower premiums than a permanent policy, as it only covers a policyholder for a limited period of time.

Detailed explanation-2: -Answer and Explanation: B. It is a protection that guarantees to pay you in the event of financial losses is correct because insurance companies aim to take back an individual to the financial position they were before the risk happened.

Detailed explanation-3: -Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.

Detailed explanation-4: -Usually, most insurance companies offer a policy term between 5 to 40 years. One should always opt for a policy term depending on their retirement age. It can vary of course.

Detailed explanation-5: -Term insurance is a type of life insurance policy that provides coverage for a certain period of time, such as 30 years. If the insured dies during the time period specified in a term policy and the policy is active, a death benefit will be paid. Most term policies offer level premiums for the duration of the policy.