Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death benefit provide a death benefit _ savings component. To understand how universal premiums are allocated, consider the following example: Ana is a 45-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 16 and 14 ) in the event of death. Each year, Ana chooses how much would like to contribute to the policy, as shown by the first row of the table below. The insurance company subtracts from this an administrative fee along with the cost of the death benefit (the remainder into the cosh value (or Based on the grven information, calculate the amount that is added to the cash value portion of the policy in each of the first three years. The cost of the death benefit portion of universal policies is only foxed for certain periods and rises with age, as is the case with life insurance policies. Suppose that in the 6 th year of her policy, her cost of death bencfit has risen- substantially. At the same time, she is helping to pay her mother's medical expenses after a major surgery and currently cannot afford to pay her life insurance premium. True or false; Under the terms of a standard universal policy; if Ana stops paying her premiums, then the administrative fee and cost of death benefit will be deducted from the savings portion of her policy (assuming sufficient cash valoe accumulation,) and the policy wall remain active. True False. Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death bencfit savings component, and universal policies nefit. Savings component. To understand how universal premiums areallocated, consider the following Id lawyer who has taken out a unversal life insurance policy to protect her two children (ages 16 and 14 ) in the event of death. poses how much would like to contribute to the policy, as shown by the first row of the table below, That insurance company Subtracts from this an administrative fee along with the cost of the death benefit (the: remainder into the cash value (or I portion of the policy, This money earns interest at a Based on the given information, calculate the amount that is added to the cash value portion of the polcy in each of the first three years. The cost of the death benefit portion of universal policies is only foced for certain periods and nses with age, as is the case with life insurance policies. Suppose that in the 6ith year of her policy, her cost-of death benefit has risen substantially, At then same tame, she is helping to pay her mother's medical expenses atter a major surgery and currently cannot afford to pay her life insurance premium. True or False: Under the terms of a standard universal policy, if Ana stops paying her premiats, then the administrative fee and cost of death benctit Will be deducted from the savings portion of her policy (assuming sulficient cash value accumulation,) and the policy will remain active. True : false Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death benefit provide a death benefit _ savings component. To understand how universal premiums are allocated, consider the following example: Ana is a 45-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 16 and 14 ) in the event of death. Each year, Ana chooses how much would like to contribute to the policy, as shown by the first row of the table below. The insurance company subtracts from this an administrative fee along with the cost of the death benefit (the remainder into the cosh value (or Based on the grven information, calculate the amount that is added to the cash value portion of the policy in each of the first three years. The cost of the death benefit portion of universal policies is only foxed for certain periods and rises with age, as is the case with life insurance policies. Suppose that in the 6 th year of her policy, her cost of death bencfit has risen- substantially. At the same time, she is helping to pay her mother's medical expenses after a major surgery and currently cannot afford to pay her life insurance premium. True or false; Under the terms of a standard universal policy; if Ana stops paying her premiums, then the administrative fee and cost of death benefit will be deducted from the savings portion of her policy (assuming sufficient cash valoe accumulation,) and the policy wall remain active. True False. Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death bencfit savings component, and universal policies nefit. Savings component. To understand how universal premiums areallocated, consider the following Id lawyer who has taken out a unversal life insurance policy to protect her two children (ages 16 and 14 ) in the event of death. poses how much would like to contribute to the policy, as shown by the first row of the table below, That insurance company Subtracts from this an administrative fee along with the cost of the death benefit (the: remainder into the cash value (or I portion of the policy, This money earns interest at a Based on the given information, calculate the amount that is added to the cash value portion of the polcy in each of the first three years. The cost of the death benefit portion of universal policies is only foced for certain periods and nses with age, as is the case with life insurance policies. Suppose that in the 6ith year of her policy, her cost-of death benefit has risen substantially, At then same tame, she is helping to pay her mother's medical expenses atter a major surgery and currently cannot afford to pay her life insurance premium. True or False: Under the terms of a standard universal policy, if Ana stops paying her premiats, then the administrative fee and cost of death benctit Will be deducted from the savings portion of her policy (assuming sulficient cash value accumulation,) and the policy will remain active. True : false