Russell Lowe has a life insurance policy that allows him to pay his premiums virtually at any time and virtually in any amount, subject to certain minimums. What type of insurance does Russell likely have?

Question

Quizplus · Accepted Answer

Russell likely has a universal life insurance policy, which allows for flexibility in premium payment amounts and timing, and also has a cash value component that can be adjusted over time. The other options, such as ordinary whole life, limited payment life, variable life, and adjustable life, do not typically offer this level of flexibility with premium payments.

Russell Lowe Has a Life Insurance Policy That Allows Him