Arkansas Life and Health Insurance Practice Exam

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All of the following about Universal Life are true, except:

  1. Adjustable death benefit

  2. Flexible premium

  3. Increases in face amount do not require proof of insurability if under $100,000

  4. Withdrawals are permitted

The correct answer is: Adjustable death benefit

Universal Life Insurance offers a flexible premium payment schedule, allows withdrawals, and increases in face amount usually do not require proof of insurability if under a certain threshold, typically $100,000. However, the one statement that is not entirely accurate is an "Adjustable death benefit." Universal Life Insurance provides a fixed or level death benefit that remains the same throughout the policy unless the policyholder requests a change. The death benefit does not automatically adjust based on policy performance or other factors.

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