All of the following statements about universal life insurance are true EXCEPT
A) Interest is credited to the policy's cash value each month.
B) Any withdrawal of a policy's cash value reduces the amount of the death benefit.
C) Interest credited to a policy's cash value is taxable for the policyowner in the year credited.
D) The policyowner can add to a policy's cash value at any time subject to policy guidelines.
Answer: C
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)