| Guaranteed at-death proceeds; Guaranteed lifetime benefits equal to
face amount at fixed date (such as age 65) |
Level premiums, payable only to the policy endowment date (date when
cash value = policy face amount); Premiums among the highest of fixed
premium policies |
Guaranteed build-up (much faster than Ordinary Life); Participating
policies may have build-up beyond amounts guaranteed |
Greater forced savings (cash value = death benefits when policy
endows); Guaranteed cash values; Income tax advantages |
Higher rates than other fixed premium cash value policies (thus,
usually not suitable for young buyers with large pure protection need);
Investment return usually marginal |
Buyers having a need for a fixed amount on a fixed date |