In respect of Universal life insurance, which of the following statement is correct:-

A. The partial withdrawal once taken need not be repaid

B. Policy was kept in force even if premiums are not paid provided there were adequate investment returns

C. Both A & B

D. None of the above

Answer: Option C

Solution(By Examveda Team)

Both the statements are correct.
The partial withdrawal once taken need not be repaid and Policy was kept in force even if premiums are not paid provided there were adequate investment returns.