Purchasers of universal life policies specify the policy's face amount and whether the death benefit will be level or vary as the policy's cash value changes. Under level death benefit policies the death benefit payable:

Question

Quizplus · Accepted Answer

Under a level death benefit policy, the death benefit remains constant and equals the policy's face amount, regardless of changes in the policy's cash value.

Purchasers of Universal Life Policies Specify the Policy's Face Amount