Which of the following statements about life insurance is true?You will always need life insurance.Term life insurance should be avoided because the policy will expire and it has no savings plan built into it.Cash value insurance is normally for life and is more expensive than term life insurance because it funds a savings plan.There is no difference between term and cash value life insurance.

The statement that is true about life insurance is: "Cash value insurance is normally for life and is more expensive than term life insurance because it funds a savings plan."

Here's why:

1. "You will always need life insurance." - This is not necessarily true. The need for life insurance varies depending on your personal circumstances, such as whether you have dependents or not.

2. "Term life insurance should be avoided because the policy will expire and it has no savings plan built into it." - This is also not necessarily true. Term life insurance can be a good choice for people who need coverage for a certain period of time. It's typically cheaper than permanent life insurance and can be a good choice for young families on a budget.

3. "Cash value insurance is normally for life and is more expensive than term life insurance because it funds a savings plan." - This is true. Cash value life insurance is a type of permanent life insurance that includes an investment feature. Cash value is a portion of your policy that earns interest and may be available for you to withdraw or borrow against in case of an emergency.

4. "There is no difference between term and cash value life insurance." - This is not true. As explained above, term life insurance provides coverage for a certain period of time, while cash value life insurance provides lifelong coverage and also has a cash value component.