Dave purchased a life insurance policy.
The policy is nonparticipating and the cash values are based on the insurer's present mortality, investment, and expense experience. After 2 years, the insurer will recalculate the premium based on the mortality, investment, and expense experience at that time. Dave purchased
A) current assumption whole life.
B) variable life insurance.
C) universal life insurance.
D) variable universal life insurance.
Question 2
Ann is considering the purchase of a life insurance policy with these characteristics:
flexible premium payments, the insurance and savings components are separate, the interest rate credited to the cash value is tied to a changing market interest rate but a minimum interest rate is guaranteed, and a monthly administrative fee is charged. Ann is considering buying
A) whole life insurance.
B) variable life insurance.
C) universal life insurance.
D) current assumption whole life.
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