Question 1 (1 point) Saved Which statement below is TRUE for limited-payment whole life insurance policies? Premiums for a 10 year pay policy are higher than the premiums for a lifetime pay policy, but they are actuarially equivalent. The longer the number of years the premium is paid, the higher the premiums are, and therefore the higher the accumulated cash values. Limited-payment whole life insurance is a type of whole life insurance whose values may vary directly with the performance of a set of earmarked investments. Cash values only accumulate for the number of years that premium payments are made. Question 2 (1 point) Which statement below is NOT true regarding survivorship (also known as Joint Last to Die) life insurance policies? Premiums are lower than individual policies sue to the lower probability of payout. Premiums are lower than individual policies sue to the lower probability of payout. Policy pays on the death of the first life. Most survivorship polices are whole life