Polly wants the opportunity to change the amount she pays for her annual premium through the life of her insurance policy without changing her coverage. Which of the following types of whole life policies would meet her needs?

Question

Quizplus · Accepted Answer

Universal life insurance policies allow the policyholder to adjust their premium payments and death benefit over time to meet their changing needs. This flexibility allows the policyholder to decrease their premium payments if they need to reduce expenses or increase them if they can afford to pay more. The death benefit can also be adjusted to reflect changes in the policyholder's needs. Therefore, a universal life policy would be the best choice for Polly if she wants to change the amount she pays for her annual premium through the life of her policy without changing her coverage.

Polly Wants the Opportunity to Change the Amount She Pays