Question 3 Which of the following statements regarding types of permanent life insurance are correct? (1) Whole life policies guarantee a fixed interest rate and fixed death benefit (2) Universal life policies offer the owner flexibility of premium payments (3) A joint life policy will pay the death benefit to beneficiaries upon the death of the second spouse (4) The death benefit paid to beneficiaries of a cash-value life policy will be reduced by the amount of any outstanding policy loan or partial withdrawal. beneficiari (5) The death benefit with a variable life policy depends on the investment performance of the sub-accounts 1, 2, 4 and 5 1, 2, 3, 4 and 5 2, 3 and 4 1 pts 1 and 4

Which of the following statements regarding types of permanent life insurance are correct? (1) Whole se policios guarantee a fixed interest rate and foxed death bonefit (2) Universal life policies offer the owner flexbility of premium payments (3) A joint life policy will pay the death benefit to beneficiaries upon the death of the second spouse (4) The death benefit paid to benenciaries of a cash-value life policy wil be reduced by the amount of ary outstanding policy loan of partial withdrawal. (5) The death benefit with a variable life policy depends on the investment performance of the sub-accounts 1,2,4 and 5 1,2,3,4 and 5 2. 3 and 4 1 and 4