Carl would like to purchase life insurance. He would also like to inve

Carl would like to purchase life insurance. He would also like to invest in a mutual fund. An agent told Carl about a form of life insurance in which Carl could select where the saving component is invested.

This form of life insurance has fixed premiums and the cash value is not guaranteed. This type of life insurance is called
A) universal life insurance.
B) whole life insurance.
C) variable life insurance.
D) current assumption whole life.

ANSWER

Answer: C