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

The type of insurance policy that allows for flexible premium payments and minimums is universal life insurance. This type of policy offers more flexibility than other types of life insurance, such as ordinary whole life or limited payment life. Variable life insurance typically involves the policyholder making investment decisions, while adjustable life insurance allows the policyholder to adjust the policy's premium, death benefit and other features.

Russell Lowe Has a Life Insurance Policy That Allows Him