____ life insurance specifies a period of time over which the policy will exist but also builds a cash value for policyholders over time.

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Universal life insurance specifies a period of time over which the policy will exist, but also builds a cash value for policyholders over time. This cash value can be used to pay premiums or can be withdrawn as a loan or surrendered for cash. Whole life insurance also builds cash value, but it is typically more expensive and offers fewer options for premium payments. Term life insurance only provides coverage for a specific period of time and does not build cash value. Variable life insurance is a type of permanent life insurance that allows policyholders to invest the cash value in a variety of investment options.

____ Life Insurance Specifies a Period of Time Over Which