Final answer:
The policy owner may indeed pay additional premiums above and beyond what is required under the permanent form in order to accumulate greater cash value or to shorten the premium paying-period.
Step-by-step explanation:
The statement is True.
The policy owner of cash-value (whole) life insurance has the option to pay additional premiums above and beyond what is required under the permanent form.
These additional premiums can be used to accumulate greater cash value or to shorten the premium paying-period.
For example, if the policy owner wants to build up more cash value within the policy, they can choose to pay extra premiums.
This will increase the cash value component of the policy, providing them with more savings and potential growth over time.