question 20 of 60\nwhat type of underlying insurance is used in a universal life policy?\na. modified whole…

question 20 of 60\nwhat type of underlying insurance is used in a universal life policy?\na. modified whole life\nb. annually renewable term\nc. convertible term\nd. flexible premium adjustable life

question 20 of 60\nwhat type of underlying insurance is used in a universal life policy?\na. modified whole life\nb. annually renewable term\nc. convertible term\nd. flexible premium adjustable life

Answer

Brief Explanations:

Universal life policies typically use annually renewable term insurance as the underlying insurance. It allows for flexibility in premium payments and death - benefit amounts. The other options are not the typical underlying type for universal life.

Answer:

B. Annually Renewable Term