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An universal life insurance policy has all the following EXCEPT?
A) Contributions (premiums) may be increased or decreased by the policy payor.
B) The face amount may be increased (subject to evidence of insurability), or decreased (subject to the IRS corridor).
C) Without its adjustable features it resembles an endowment policy.
D) It is considered a form of permanent life insurance.
Answer: C) Without its adjustable features it resembles an endowment policy.
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