Questions: Q. What type of insurance provides coverage for specific period of time? A. Permanent Coverage B. Term Coverage C. Universal Coverage D. Variable Coverage

The answer is B: Term Coverage.

Explanation for each option:

A. Permanent Coverage: This type of insurance provides coverage for the entire lifetime of the insured, as long as premiums are paid. It includes whole life insurance and universal life insurance. It is not limited to a specific period of time.

B. Term Coverage: This type of insurance provides coverage for a specific period of time, such as 10, 20, or 30 years. If the insured dies during the term, the death benefit is paid to the beneficiaries. If the term expires and the insured is still alive, the coverage ends unless it is renewed.

C. Universal Coverage: This is a type of permanent life insurance that offers flexible premiums and death benefits. It is not limited to a specific period of time and provides lifelong coverage.

D. Variable Coverage: This is another type of permanent life insurance where the cash value can be invested in various sub-accounts, similar to mutual funds. The coverage lasts for the lifetime of the insured and is not limited to a specific period of time.

Therefore, the correct answer is B: Term Coverage, as it specifically provides coverage for a set period of time.