All of the Following Statements About Universal Life Insurance Are

question 44

Multiple Choice

All of the following statements about universal life insurance are true EXCEPT

• A)Interest is credited to the policy's cash value each month.
• B)Any withdrawal of a policy's cash value reduces the amount of the death benefit.
• C)Interest credited to a policy's cash value is taxable for the policyowner in the year credited.
• D)The policyowner can add to a policy's cash value at any time subject to policy guidelines.

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An American energy, commodities, and services company based in Houston, Texas, that became infamous for its bankruptcy in 2001 due to one of the largest corporate fraud scandals in history.

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