Which of the following statements about universal life insurance is (a

Which of the following statements about universal life insurance is (are) true?

I. The current interest rate credited to the cash value at the time the policy is issued remains fixed for the life of the policy.
II. A monthly deduction is made from the policy’s cash value for the cost of insurance protection.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: B