Year 1 Year 2 Year 3 $1,757 Premium (annual contribution) Administrative fee $2,834 $80 $100 $2,220 $80 $80 Cost of death benefit $100 $100 Amount added to cash value $ life 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 insurance policies. Suppose that in the 10th year of his policy, his cost of death benefit has risen substantially. At the same time, he is paying to have major repairs done on his home and currently cannot afford to pay his life Insurance premium. nd cost of death True or False: Under the terms of a standard universal policy, if Dmitri stops paying his premiums, then the administrative fee benefit will be deducted from the savings portion of his policy (assuming sufficient cash value accumulation,) and the policy will remain active. True O False