A)combines term protection and cash value buildup in one convenient policy.
B)typically offers a better return on the cash value buildup than traditional whole life policies.
C)permits the insured to vary premium payments within certain limits.
D)does all of the above.
"Direct recognition" occurs when the insurance company
A)reduces dividend payments because of an unexpected increase in costs.
B)increases premiums in recognition of the insureds advancing age.
C)reduces the rate earned on a portion of the cash value,because the insured has taken out a policy loan.
D)revises its actuarial factors to reflect the changing risk environment.
Variable life differs from universal life in that
A)variable life has an investment component and universal life does not.
B)universal life has an investment component and variable life does not.
C)variable life's cash value depends on an underlying portfolio of financial investments.
D)variable life provides a guaranteed investment return.
Which of the following policies can be sold only by a registered securities dealer?