Question: Carol, age 6 5 , submitted an application and first premium for an individual variable life insurance policy but did not specify where her initial

Carol, age

65,

submitted an application and first premium for an individual variable life insurance policy but did not specify where her initial premium was to be invested. To what would the premiums be allocated?

To fixed

-

income investments and money market funds

Initial premiums are allocated to derivative investments.

To the mutual funds underlying the variable life insurance policy

To certificates of deposit

Carol, age 6 5 , submitted an application and

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