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Which of the following statements about savings bank life insurance is true? Question 76 options:...

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Finance

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

Question 76 options:

1)

The maximum amount that a depositor can purchase is $50,000.

2)

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

3)

The objective of savings bank life insurance is to provide protection to the bank in case a borrower dies before a loan is repaid.

4)

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.

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