Rick owns a variable universal life policy and chooses a variable death benefit option. what will typically happen to the death benefit as a result of this selection fluctuate with changes in cash account.
In a cash account, the investor must pay the entire price for any securities they wish to purchase. It is prohibited for an investor utilizing a cash account to borrow money from their broker-dealer to pay for transactions in the account (trading on margin).
A business-to-business or business-to-consumer account that is conducted on an instant payment basis, with no credit being granted, is referred to in business practice as a cash account.
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