$20$ of $20$

Abby Miller purchased a typical five$-$year increasing term life insurance poilcy on the life of her husband, Sam. With regaro to Whether the benefit amount and premium amount for her policy will change during the policys term, it is correct to say that

the policy benefit will increase at stated intervals over the policy term, but the policy premium will remain the same over the policy term

the policy benefit will decrease at stated intervals over the policy term, but the policy premium will remain the same over the policy term

both the poicy benefit and the policy oremium will decrease at stated intervals over the policy term

both the policy benefit and the policy premium will increase at stated interva's over the policy term