Which One of the Following Statements About Universal Life Insurance
Which one of the following statements about universal life insurance is not true?
A) Cash contributions, net of term premiums, are invested at market rates.
B) The policyholder may vary the level of insurance coverage.
C) The policy does not qualify for the special federal tax exclusion of income built up inside the contract.
D) The amount of policyholder contribution each year is the difference between the contributions and the price of a one-year term policy.