Which of the following describes a 'Term-100' (T-100) life insurance policy?

Question: Which of the following describes a 'Term-100' (T-100) life insurance policy?

Answer options: ✅ It provides permanent protection with level premiums but typically has no cash surrender value.

• It is a term policy that must be renewed every 100 days.
• It provides a death benefit that increases by 100% every ten years.
• It combines a term policy with a high-interest savings account.

Correct answer: It provides permanent protection with level premiums but typically has no cash surrender value.

Explanation: A T-100 policy is a form of permanent insurance that provides coverage for life (usually to age 100) with level premiums. Unlike Whole Life or Universal Life, it generally does not build a cash surrender value, making it a lower-cost option for permanent protection.