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Jack is a single parent who earns $30,000 annually as a salesman. He has a 2-year-old daughter and has limited income to purchase life insurance.
Jack is a single parent who earns $30,000 annually as a salesman. He has a 2-year-old daughter and has limited income to purchase life insurance. Jack has no knowledge of insurance or investing. He would like to save money for his daughters future education. If he is primarily focused on protecting his daughter should he die prematurely, which policy would you recommend?
A. Life paid-up-at-age 65.
B. Universal life insurance.
C. Five-year term insurance policy.
D. Variable life insurance.
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