Bob purchases a $50,000 5-year level term policy. All of the following statements about Bob's coverage are correct EXCEPT:

A) If the insured lives beyond the five years, the policy expires and no benefits are payable.

B) if the insured dies after the specified five years, only the policy's cash value will be paid.

C) if the insured dies at any time during the five years, his beneficiary will receive the policy's face value.

D) the policy provides a straight, level $50,000 of coverage for five years.

Answer: B) if the insured dies after the specified five years, only the policy's cash value will be paid.