Which of the following statements about universal life insurance is (are)true?
I.The current interest rate credited to the cash value at the time the policy is issued remains fixed for the life of the policy.
II.A monthly deduction is made from the policy's cash value for the cost of insurance protection.

Question

Quizplus · Accepted Answer

Statement I is false as the interest rate credited to the cash value can be adjustable based on the insurer's discretion. Statement II is true as the cost of insurance protection is deducted from the policy's cash value on a monthly basis.

Which of the Following Statements About Universal Life Insurance Is