Final answer:
The correct choice for a client looking for cash value life insurance with flexible premiums, an unadjustable death benefit, and investment options is Variable/Universal life, which is Option A.
Step-by-step explanation:
If a client desires a cash value life insurance policy that permits flexible premiums, an unadjustable death benefit, and provides a selection of various cash value investment options, the appropriate type of insurance product would be Variable/Universal life insurance.
This insurance type combines the flexible premium features of universal life with the variety of investment options found in variable life insurance. It allows the policy owner to allocate the cash value among different investment options, usually including stocks, bonds, and money market funds, which can have varying levels of risk and potential return.
By selecting variable/universal life insurance, policyholders have the flexibility to adjust their premium payments within certain limits and can manage the investment aspect of their policy to better suit their financial goals.
This contrasts with variable life insurance, which has fixed premiums and universal life insurance, which has the flexibility but does not directly tie the cash value to investment options. Adjustable life is a term used for policies offering the ability to adjust coverage amounts and premiums but does not imply the investment choice characteristic of variable/universal life.
Therefore, the correct option for the client, given the desire for investment options and premium flexibility, would be Option A: Variable/Universal life.