Which of the following are advantages of a universal life (UL) policy? 1. The insured may decide upon the planned premium that he wishes to pay. 2. The insured can invest wisely and have future premiums paid with income earned by his investments. The insured may add on other life insureds later, if required. The investments in a universal life policy are guaranteed to produce a minimum level of return. The insured may make withdrawals from the investment account, subject to taxation of the withdrawal. 3. 4. 5. Select one: a. 1, 2, 3 and 5 only b. 3, 4 and 5 only c. 1, 4 and 5 only d. 2 and 3 only