Which of the following is a characteristic of a universal life insurance policy?
A) No flexible premiums
B) Cash value lower than the death benefits
C) Absence of a savings feature
D) Fixed premiums and protection levels
E) Lighter fees than other insurance policies

Question

Quizplus · Accepted Answer

Universal life insurance policies typically have a cash value component that grows over time, but in some cases, the cash value may be lower than the death benefit. This is because the policyholder may choose to allocate more of their premiums to paying for insurance coverage rather than accumulating cash value. The other options listed are not characteristic of universal life insurance policies.

Which of the Following Is a Characteristic of a Universal