Florida Life and Health Insurance License Practice Test 2026 - Free Insurance Practice Questions and Study Guide

Variable Universal Life insurance is the type of life policy that contains a monthly mortality charge as well as self-directed investment options. This type of policy offers both a death benefit and a savings component, giving the policyholder more control over how their premiums are invested. The other options, such as whole life insurance, term life insurance, and universal life insurance, do not typically have the same self-directed investment choices and may not include a monthly mortality charge.