Which option for universal life allows the beneficiary to collect both the death benefit and cash value upon the death of insured?

The option that allows the beneficiary to collect both the death benefit and the cash value upon the death of the insured is known as the "Option A" or "Level Death Benefit" in universal life insurance. However, it's important to clarify that typically, beneficiaries receive only the death benefit, while the cash value accumulates for the policyholder during their lifetime. In some cases, certain riders or policy provisions may allow for additional benefits, but standard policies do not provide both amounts directly to beneficiaries. Always consult the specific policy details for accurate information.