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Nino discusses different types of insurance with his insurance agent Valerie. For one of the insurance policy options, Valerie explains that the premiums in the

Nino discusses different types of insurance with his insurance agent Valerie. For one of the insurance policy options, Valerie explains that the premiums in the earlier years are actually greater than the cost to insure the mortality risk and the overpayment is invested to help cover the mortality cost in the later years of the policy. Which of the following CORRECTLY describes this feature?

a) The investment account
b) An accumulation option
c) A policy reserve
d) The cash surrender value

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