Whole life and universal life policies have some similarities and differences. Which of the following is NOT a characteristic of a universal life policy?

Whole life and universal life policies have some similarities and differences. Which of the following is NOT a characteristic of a universal life policy?




a. Policy owner may increase or decrease the death benefit

b. Cash value is fixed and guaranteed

c. Interest earned by the cash account cannot vary

d. Flexible premiums schedule is available



Answer: c. Interest earned by the cash account cannot vary

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