The correct answer is: D. USA is known for introducing such policies.
Universal life insurance is a type of permanent life insurance that combines the features of term life insurance and whole life insurance. It provides a death benefit, just like term life insurance, but it also builds cash value, just like whole life insurance. The cash value can be used for a variety of purposes, such as retirement savings, college savings, or debt consolidation.
Universal life insurance was first introduced in the United States in the 1970s. It quickly became popular because it offered a more flexible alternative to traditional whole life insurance. With universal life insurance, policyholders can choose how much they want to pay in premiums, and they can also choose how they want to invest the cash value.
Universal life insurance is a good option for people who want the death benefit and cash value protection of permanent life insurance, but who also want more flexibility than traditional whole life insurance offers.
Here is a brief explanation of each option:
- Option A: Universal Life Insurance is associated with Germany. This is incorrect. Universal life insurance was first introduced in the United States in the 1970s.
- Option B: Universal Life plan was first introduced in the UK. This is incorrect. Universal life insurance was first introduced in the United States in the 1970s.
- Option C: France is the home of universal Life policies. This is incorrect. Universal life insurance was first introduced in the United States in the 1970s.
- Option D: USA is known for introducing such policies. This is correct. Universal life insurance was first introduced in the United States in the 1970s.