Fred is the owner of a Universal life policy and selected the Level plus Account Value death benefit option. The face amount is $200,000 and he has been contributing $200 per month to the plan for the past 10 years for total of $24,000 in premiums paid. The Account Value is now grown to $20,000. At the time of purchase, he selected the level cost of insurance option (LCOI) for his mortality cost and this was guaranteed in his contract to be $.60 per thousand per month. The insurance company will calculate his COI for this month as follows: Select one: 00 a. 220 x $.60 = $132.00 b. 224 x $.60 = $134.40 c. 180 x $.60 = $108.00 d. 200 x $.60 = $120.00 A

Fred is the owner of a Universal life policy and selected the Level plus Account Value death benefit option. The face amount is $200.000 and he has been contributing $200 per month to the plan for the past 10 years for total of $24,000 in premiums paid. The Account value is now grown to $20,000. At the time of purchase. he selected the level cost of insurance option (LCOI) for his mortality cost and this was guaranteed in his contract to be $.60 per thousand per month. The insurance company will calculate his CoI for this month as follows: Select one: a. 220$.60=$132.00 b. 224$.60=$134.40 C. 180$.60=$108.00 d. 200$.60=$120.00