In most respects, these policies work like universal life.The major difference is that, similar to traditional whole life contracts, the premiums are fixed.These policies do not have the flexible premium arrangements characteristic of universal life.Identify the life insurance policy being discussed.

Question

Quizplus · Accepted Answer

The policy being discussed is Current Assumption Whole Life Insurance. This type of policy works similarly to universal life in many respects but has fixed premiums like traditional whole life insurance, distinguishing it from universal life policies which typically offer flexible premium arrangements.

In Most Respects, These Policies Work Like Universal Life