Question

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 savings is tied to a market interest rate but a minimum 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.

Answer 1

Answer:

C) universal life insurance

Explanation:

According to my research on different life insurance specifications, I can say that based on the information provided within the question Ann is considering buying a universal life insurance policy or UL. This is a policy in which the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. Which is what Ann seems to be investigating.

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