A person who has a universal life policy and needs cash from the policy, but does not want to have an outstanding policy loan should:

A person who has a universal life policy and needs cash from the policy, but does not want to have an outstanding policy loan should:



a. Take a partial surrender of the policy's cash value

b. Take a full surrender of the policy's cash value

c. Get a loan from the bank

d. Take out a policy loan



Answer: a. Take a partial surrender of the policy's cash value

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