Which insurance policy provides whole life and decreasing term coverage for the breadwinner to support a surviving family?

The family income policy is designed to offer financial protection to a family in the event of the breadwinner's premature death. This policy combines whole life insurance with decreasing term insurance. The whole life component provides a death benefit and builds cash value over time, while the decreasing term portion provides additional coverage that declines over a set period, typically matching the family's needs after the breadwinner's passing. This structure ensures that the family receives a steady income over a specified term while still having the long-term benefits of whole life coverage.

In scenarios where the presented options mention other types of policies, they do not fulfill the specific combination of coverage that supports the family during the breadwinner's absence as effectively as a family income policy does. A family maintenance policy, for example, offers both whole life coverage and level term insurance, which does not decrease over time as the family's income needs diminish. A family policy refers to a plan that covers multiple family members under one contract but does not specifically address income replacement. The joint life policy insures two lives under one contract, which primarily focuses on the death benefit of the first insured to pass away, rather than specifically supporting a family's ongoing income needs over time.

Thus, the family income policy is the most suitable choice for providing