Universal life insurance policy

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Reference no: EM131646688

1. A universal life insurance policy (ULI) is considered to be:

a form of fixed face, fixed premium whole life insurance

term insurance only

a whole life policy where the face amount may be changed at any time

a version of the buy-term-and-invest-the-difference strategy

2. Choose the item below that is not a characteristic of group life insurance.

the group must not be formed solely to purchase insurance

benefits are determined by a predetermined formula

benefit amounts are usually increased by the employer at 5-year intervals

there usually are no medical exams required

Reference no: EM131646688

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