SIE Exam Practice Question 739
Question: 739
Which of the following are basic provisions of a universal life insurance policy?
(1) Flexible death benefit
(2) Flexible premium
(3) Minimum guaranteed cash value
(4) Unbundled structure
Correct Answer: C
Explanation:
Universal life insurance policies have a flexible premium and death benefit, and are said to have an "unbundled structure." They do not have a minimum guaranteed cash value.
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