Final answer:
A life insurance policy that is subject to a contract interest rate is referred to as universal life.
Step-by-step explanation:
A life insurance policy that is subject to a contract interest rate is referred to as d) universal life.
In universal life insurance, the policyholder has the flexibility to adjust the death benefit, premiums, and cash value accumulation within certain limits.
The interest credited to the cash value is based on a contract interest rate agreed upon by the insurer and policyholder.
This allows the policyholder to potentially earn more on their cash value compared to other types of life insurance policies.