Which of the Following Statements About Savings Bank Life Insurance

question 36

Multiple Choice

Which of the following statements about savings bank life insurance is true?

• A)The maximum amount that a depositor can purchase is $50,000.
• B)The maximum amount of insurance that a depositor can purchase is limited to the amount of money on deposit in his or her savings account with the savings bank.
• C)The objective of savings bank life insurance is to provide protection to the bank in case a borrower dies before a loan is repaid.
• D)The objective of savings bank life insurance is to provide low-cost insurance to consumers by holding down expenses.

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