The death benefit payable on a UL plan is based on: 1. level death benefit 2. level death benefit plus cumulative deposits 3. indexed death benefit 4. level death benefit plus account value Which of the following is true with regards to level death benefit? Question 24 options: Increases by the amount of each deposit to the policy This option should only be chosen if the insurance need remains static at the initial face amount of the death benefit The purpose of this option is usually not to match the increasing benefit to a specific need of the beneficiary, but to permit the beneficiary to get a refund of the gross investment in the plan on the death of the life insured It addresses the disadvantages of quick paying or overfunding a UL plan with a level death benefit Page 24 of 40