In a(n) ____ insurance policy, the benefits awarded by the life insurance company to the beneficiary differ, depending on the assets backing the policy.

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In a variable life insurance policy, the benefits awarded to the beneficiary depend on the performance of the investments made by the policyholder. The policyholder can choose from a range of investments, including stocks, bonds, and mutual funds, and the policy's cash value will fluctuate according to the performance of those investments. This means that the payout to the beneficiary can vary greatly, depending on how the investments performed. In contrast, in a whole life insurance policy, the benefits are guaranteed and do not depend on investment performance. A universal life insurance policy allows for flexible premiums and death benefits but has a guaranteed minimum interest rate for its cash value component. Group life insurance is typically offered as a benefit by an employer to its employees, and the death benefits are generally a set amount or based on the employee's salary.

In A(n) ____ Insurance Policy, the Benefits Awarded by the Life