A Universal Life Insurance Policy Is Best Described as Quizlet
Here are some characteristics as follow 1. The face amount will remain at 70000 throughout the life of the policy. Level Premium Term Life Insurance Policies Quizlet At Level An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. . Both universal life and variable universal life have a. By definition a universal life insurance policy is a cash value life insurance policy that combines the low cost of term insurance with the savings options and lifelong coverage of whole life. Cash value is one of them. Until the policy owner reaches age 65. A deferred premium payment policy. Universal life insurance policy is best described as 1. Life insurance proceeds paid to your heirs are not usually subject to state or federal income taxes. The death benefit would be. Rob purchased a standard whole life policy with a 500000 death benefit when he was age 30.