The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as

The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as


A. The policyowner cannot skip premiums without the policy lapsing.

B. The next month's premium is sufficient to cover both the current premium amount and the skipped amount.

C. The policy contains sufficient cash value to cover the cost of insurance.

D. The previous premium payments were high enough to create an excess of premium.


Answer: C. The policy contains sufficient cash value to cover the cost of insurance.

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