A whole life insurance policy in which premiums are reduced for ...

[809779]

A whole life insurance policy in which premiums are reduced for an initial period (e.g. 3 years) and are higher thereafter is an example of a
 
  A) level-term policy.
  B) modified life policy.
  C) limited-payment whole life policy.
  D) variable life policy.

Question 2

Which of the following statements about a variable universal life insurance policy is (are) true?
 
  I. There is a minimum guaranteed interest rate for the cash value.
  II. The policyowner has a variety of investment options for the savings component of the policy.
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II

[ryrychapman11]

Answer to Question 1

Answer: B

Answer to Question 2

Answer: B