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Variable life insurance differs from universal life insurance because: a. The first one allows the policyholder to receive either one or more fixed benefits, while

Variable life insurance differs from universal life insurance because:

a. The first one allows the policyholder to receive either one or more fixed benefits, while the second one allows the policyholder to specify how the funds are invested. b. The first one allows the policyholder to specify how the funds are invested, while the second one allows the policyholder to receive either one or more fixed benefits. c. The first one is a whole life insurance and the second one is a term life insurance.

d. The first one allows the policyholder to receive either one or more floating benefits, while the second one allows the policyholder to specify how the funds are invested.

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