Question 24 ne insurance is protection plus savings, with the savings equaling the face amount of the policy at the end of a specified period. True False Question 25 Renewability options allow the insured to convert a term life policy into a whole life policy without evidence of insurability. True False Question 26 Whole life insurance is sometimes called permanent insurance. True False Question 27 The longer the payment period on a life insurance policy, the higher the premiums must be. C C True False Question 28 An annuity may be useful in life insurance planning, retirement planning, and asset liquidation. C C True False