Reggie purchased a life insurance policy with a face amount of $500,000. after 15 years, the cash value has accumulated to $100,000 and the policy's face amount has become $600,000. which type of life insurance policy is this
This policy allows you to adjust your annual payments based on your capability (although is has a minimum limit requirement) and sometimes allows you to borrow money based on the accumulated value in the policy itself. Universal Life Policy usually has higher profit rates than whole-life policy.
