What Is the Most Important Difference Between Universal Life (UL)insurance

question 91

Multiple Choice

What is the most important difference between universal life (UL) insurance and whole life (WL) insurance?

• A)With WL the policy would terminate after 30 days if a premium is missed.
• B)With UL the policy owner is responsible for selecting the investments.
• C)With WL the policy owner is responsible for selecting the investments.
• D)With UL the policy would terminate after 30 days if a premium is missed.

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Definitions:

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature.

Salvaged Materials

Materials that have been recovered or repurposed from obsolete or discarded sources, often used in manufacturing or construction.

Architect's Fee

The compensation a client pays to an architect for their professional services in designing buildings or structures.

Patent

A legal right granted by the government to an inventor for a limited time, preventing others from making, using, or selling the invention without permission.