Ten years ago, John purchased a universal life insurance policy that has a face value of $1,000,000 and a current cash surrender value of $22,000. There is currently no policy loan outstanding. The annual minimum contribution for the policy is $3,000 per year. John does not want to continue making the annual contributions although he would like to maintain insurance coverage, of some amount, for the next few years. Which of the following options would allow John to address his needs?

1. He could stop making contributions into the plan and rely on the accumulating investments to cover the annual charges until there is no longer any value remaining. 2. He could stop making contributions, and reduce the face amount of the coverage, which will help to extend the period of insurance coverage. 3. He could stop making contributions and take out a policy loan equal to the cash value.

	A.	2 only.
	B.	3 only.
	C.	1 only.
	D.	1 and 2 only