Tim is considering purchasing a $500,000 life insurance policy. Tim is a 26 year-old single male with perfect health and no children.

Which statements about Tim's options are accurate? Select all that apply.

	Policy A	Policy B	Policy C	Policy D
Term or whole	Term	Term	Whole	Whole
Death benefit	$500,000$500,000	$500,000$500,000	$500,000$500,000	$500,000$500,000
Protection period	1515 years	2020 years	Life	Life
Cost per year	$500$500	$504$504	$8000$8000	$9200$9200
Proceeds paid to beneficiaries	Yes	Yes	Yes	Yes
Convertible term	No	Yes	No	Yes
Dividends	No	Yes	Yes	Yes

• Term life insurance is the best option because of Tim's age.

• Policy A is the best option because it does not pay dividends.

• Policy C is the best option because it is the cheapest whole life policy

• Policy B is the best option because the term is convertible.

• Whole life insurance is the best option because of Tim's age.

• Policy D is the best option because the term is convertible.