A universal life insurance provides two types of death protections, i.e. Type A and B. As with any insurance policy, universal life insurance has its own pros and cons. There are two principle advantages. Which of the followings is/are out of those advantages?

Question

Quizplus · Accepted Answer

Universal life insurance offers the advantage of flexibility in terms of premium payments, death benefits, and policy modifications, as well as a savings feature where a portion of the premium is invested to accumulate cash value over time. Therefore, option B is correct as it mentions both flexibility and savings feature as the principle advantages of universal life insurance. Option A (Flexibility) and Option C (Flexibility and variability) are partially correct, but they do not mention the savings feature, which is an important advantage of universal life insurance. Option D (Variability and savings feature) is incorrect as it does not mention flexibility, which is one of the main advantages of universal life insurance.

A Universal Life Insurance Provides Two Types of Death Protections