Ann is considering the purchase of a life insurance policy with these

Ann is considering the purchase of a life insurance policy with these characteristics:

flexible premium payments, the insurance and savings components are separate, the interest rate credited to the cash value is tied to a changing market interest rate but a minimum interest rate is guaranteed, and a monthly administrative fee is charged. Ann is considering buying
A) whole life insurance.
B) variable life insurance.
C) universal life insurance.
D) current assumption whole life.

ANSWER

Answer: C