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Question $3$ Mark this question

Cole has zero savings as most of his earnings are used to pay for all his monthly expenses. He has permanent life insurance and pays a $$350$ premium every month.

Which of the following is a feature of permanent life insurance that could also benefit Cole's financial situation?

In this policy, a portion of the premium is stored as cash reserves that can be withdrawn or borrowed by Cole.

The interest generated by the insurance's cash reserve is paid to Cole every month.

Cole's health is also insured under this type of policy, and it reduces his expenses on his medical bill:

In Cole's policy, the cost of the premiums, although high in the beginning, decreases as the years progress.

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