Question

Which of the following are primary benefits of a Universal life? (Select all that apply)

Group of answer choices

Interest Sensitive Rates paid on premiums in excess of COI.

Can access excess premiums accumulated to help make a payment for college tuition

Premiums are fixed

If payments stop, the policy automatically exercises the Reduced Paid Up provision

Answer 1

The correct options are A and D

Interest Sensitive Rates paid on premiums in excess of COI.

If payments stop, the policy automatically exercises the Reduced Paid Up provision

Reason

Universal life insurance gives consumers flexibility in the premium payments.You have the liberty to reduce or increase your death benefit and pay your premiums at any time in any amount after your first premium payment has been made. Collected premiums in excess of the cost of insurance accumulate within the cash value portion of the policy.