Universal life insurance was introduced in 1979.

• A. 1969
• B. 1979
• C. 1989
• D. 1999

Answer: (B)

Universal life insurance is a flexible premium, adjustable benefit policy with a separate cash value that earns interest. This product was introduced in the late 1970s as insurers offered more flexible options to meet changing financial needs, with the first widely marketed universal life policies appearing around 1979. The date marks the industry’s shift from traditional whole life to a policy that lets the owner adjust premiums and death benefits while the cash value grows with credited interest.

That’s why 1979 is the correct reference point. The other years are not correct because they fall before or after the introduction of universal life in the market.