All of the following are characteristics of variable life insurance EXCEPT:

A. Flexible premium payments

B. Cash value is not guaranteed

C. Policy owner selects where savings reserve is invested

D. Minimum Death benefit is guaranteed

Answer: Option A

Solution(By Examveda Team)

All of the following are characteristics of variable life insurance except flexible premium payments. A flexible premium annuity allows the 'annuitant', or the owner of the annuity, to make premium payments over a number of years. You would have to pay a small amount to start the annuity, but you make contributions over a number of months or years.