Question

A 35-year-old client purchases a variable life insurance policy. Under current regulations, the maximum sales charge permitted over the life of the policy is A) 9% B) 8.5% per premium payment C) 9% per premium payment D) 8.5% of total premiums over the life of the plan

Answer 1

Answer: 9%

Step-by-step explanation:

A variable life insurance policy is simply referred to as a contract between an individual and the insurance company. In the case of death to the individual, a certain amount would be paid to the family of the individual.

It should be noted that under current regulations, the maximum sales charge permitted over the life of the policy is 9% and this period should not be more than twenty years.