Frank is a married man with 2 children. he wishes to buy a life insurance policy that will pay out when he dies. what type of policy will meet his needs

Permanent Insurance Policy

Explanation:

A permanent insurance is a policy for those who want long term protection, including long periods of time over the life of the contractor. In short, under a permanent policy, the insurance contractor will continue to pay the insurance and be protected by him throughout his life, in which case his children may receive insurance premiums when the contractor dies. An example of this can be seen in the question above, where Frank wants insurance to protect him during his lifetime, but his children will receive insurance premiums when he dies.