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.

Whole 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. Term life insurance is the best option because of Tim's age. Policy B is the best option because the term is convertible. Policy D is the best option because the term is convertible.

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 Protection period 15 years | 20 years Life Life Cost per year $500 $504 $8000 $9200 Proceeds paid to beneficiaries Yes Yes Yes Yes Convertible term No Yes No Yes Dividends No Yes Yes Yes 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 Protection period 15 years | 20 years Life Life Cost per year $500 $504 $8000 $9200 Proceeds paid to beneficiaries Yes Yes Yes Yes Convertible term No Yes No Yes Dividends No Yes Yes Yes