Which of the below is correct with regards to universal life insurance?
I: It allows policy owner to vary payments.
II: Policy owner can earn market based rate of return on cash value

A. I is true

B. II is true

C. I and II are true

D. I and II are false

Answer: Option C

Solution(By Examveda Team)

Both are correct with regards to universal life insurance: It allows policy owner to vary payments and policy owner can earn market based rate of return on cash value.