Whole life and universal life insurance policies.
Review the Sample Whole Life Insurance Policy and answer the question in 45- to 90-words:
Explain the payment of policy proceeds provision.
Review the Sample Universal Life Insurance Policy and answer the question in 45- to 90-words:
Explain the cash value loan policy.
The payment proceeds could be paid as a lump sum or based on a fixed plan, depending on what the company and the insured, or the company and the beneficiary agree upon. In addition, the company is…