Which of the following is NOT a type of life insurance policy?

The correct answer is C, as "Underwritten Insurance" is not a specific type of life insurance policy. In the context of life insurance, the term "underwriting" refers to the process in which an insurance company assesses the risk associated with insuring an applicant and determines the appropriate premium for the coverage. This process is common across different types of life insurance policies like Whole Life, Variable Life, and Term Life, all of which are recognized categories of life insurance.

Whole Life Insurance provides coverage for the insured's entire lifetime and includes a cash value component. Variable Life Insurance allows policyholders to invest the cash value in various investment options, introducing a level of risk and potential for growth. Term Life Insurance, on the other hand, offers coverage for a specified term or period, providing a death benefit without any cash value accumulation.

In contrast, "Underwritten Insurance" doesn't represent a standalone insurance policy type but rather describes the mechanism by which insurance applications are evaluated. Therefore, it is not included in the list of life insurance policies.