Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit example. Lucia is a 37-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 8 and 8 ) in the event of the cash value (or ) portion of the policy. This money earns interest at a 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 fixed for certain periods and rises with age, as is the case with life her mother's medical expenses after a major surgery and currently cannot afford to pay her life insurance premium. cash portion will be paid out to her immediately. True False