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

Insurance

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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.

Answer: D) The objective of savings bank life insurance is to provide low-cost insurance to consumers by holding down expenses.

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