Question

question 45 of 60
a life insurance policy that allows for a partial withdrawal or surrender of its cash value is a
a. variable policy
b. universal life policy.
c. whole life policy.
d. limited pay policy

Explanation:

Universal life policies often have a cash - value component that policyholders can access through partial withdrawals or surrender. Variable policies are mainly about investment options, whole life policies focus on a guaranteed death benefit and a fixed premium, and limited - pay policies are about the premium - payment period.

Answer:

B. Universal life policy