- = = 1 Normal 1 No Spac... Heading 1 Heading Title KI Paragraph 12 Styles 6. Steve is trying to decide which death benefit option he should select for his new universal life insurance policy. He is considering how much each alternative option might cost him for the insurance element. Which of the following statements about the calculation of the monthly risk charges under a universal life insurance policy is correct? (A) The risk charge for the level death benefit option is based upon the initial face amount. (B) The risk charge for the level death benefit plus cumulative deposits is based upon the initial face amount, less the account value, plus the cumulative deposits. (C) The risk charge for the level death benefit plus account value is based upon the initial face amount, less the account value. (D) The risk charge for the indexed death benefit is based upon the indexed face amount of coverage