Florida Life and Health Insurance License Practice Test

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Which type of life policy contains a monthly mortality charge as well as self-directed investment choices?

Whole Life Insurance
Term Life Insurance
Universal Life Insurance
Variable Universal Life

The correct answer is: Variable Universal Life

Variable Universal Life insurance is the type of life policy that contains a monthly mortality charge as well as self-directed investment options. This type of policy offers both a death benefit and a savings component, giving the policyholder more control over how their premiums are invested. The other options, such as whole life insurance, term life insurance, and universal life insurance, do not typically have the same self-directed investment choices and may not include a monthly mortality charge.