The statement's ability to access cash value is not characteristic of permanent life insurance.
We have given that
The characteristic of permanent life insurance
We have to determine which statement is not correct.
A. Paid out when you die
B. Must be renewed periodically
C. Lifetime coverage
D. Ability to access the cash value
What is the characteristic of permanent life insurance?
Permanent life insurance refers to coverage that never expires, unlike term life insurance, and combines a death benefit with a savings component.
The two primary types of permanent life insurance are whole life and universal life.
Permanent life insurance policies enjoy favorable tax treatment.
Therefore the statement's ability to access cash value is not characteristic of permanent life insurance.
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