Question
Josephine, an aspiring architect, made purchase of an intriguing life insurance policy. The policy states that a minimum interest rate is guaranteed on the cash
Josephine, an aspiring architect, made purchase of an intriguing life insurance policy. The policy states that a minimum interest rate is guaranteed on the cash value, but additional interest may be credited based on the investment performance of a group of common stocks. It also contains a cap on the additional interest credited to the policy. Based on this information, what type of life insurance did Josephine purchase?
1. | variable life insurance | |
2. | indexed universal life insurance | |
3. | current assumption whole life insurance | |
4. | variable universal life insurance |
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