Which of the following is an advantage of a No-Lapse Universal Life Policy?

Term insurance has no tax-deferred, automatic savings feature as permanent coverage does.

The prohibited practice of an agent sharing the commission with the purchaser is called:

The “optional modes of settlement” include all of the following except:

Policies that fail the thirteen-pay test will be treated as modified endowment contracts (MECs).

First-year commission on NLUL policies, as a percentage of target premium, can be as high as:

Which of the following is NOT a disadvantage of a No-Lapse Universal Life (NLUL) product?

Which of the following statements about the tax aspects of ownership of variable universal life insurance is FALSE?

Term life insurance is ideal for permanent needs, such as paying off funeral, estate, and inheritance taxes.

Under the paid-up additions dividend option, the premiums payable by the policyowner _______ while the total death benefit and the schedule of total cash values ___________ over time.