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All of the following statements concerning universal life insurance are correct EXCEPT a. Universal life is similar to term insurance with a cash value account.

All of the following statements concerning universal life insurance are correct EXCEPT

a. Universal life is similar to term insurance with a cash value account.

b. Universal life allows for flexibility when you make your premium payments.

c. Universal life does not provide any income tax advantages.

d. Universal life has some guarantees such as a guaranteed minimum interest rate.

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