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All of these are characteristics of a universal policy EXCEPT

a. flexible death
b. fixed surrender value
c. flexible premiums
d. Builds cash value

1 Answer

6 votes

Final answer:

A universal policy is a type of permanent life insurance that offers flexible premiums and the ability to build cash value over time. However, it does not have a fixed surrender value.

Step-by-step explanation:

A universal policy is a type of permanent life insurance that offers flexible premiums and the ability to build cash value over time. However, it does not have a fixed surrender value.

The surrender value is the amount of money you would receive if you were to cancel the policy before it matures.

In a universal policy, the surrender value can fluctuate based on the performance of the policy's investments. Therefore, the correct answer is b. fixed surrender value.

User Sachin Prasad
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