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Ho purchased a policy with an initial premium of $30,000 and may elect how much he desires to pay in premiums from now on. He

Ho purchased a policy with an initial premium of $30,000 and may elect how much he desires to pay in premiums from now on. He has purchased a face value of $1,000,000 and can accumulate cash value. What type of life insurance has Ho purchased?

a. universal life

b. whole life

c. modified whole life

d. term life

e. adjustable whole life

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