| Guaranteed at-death proceeds; Guaranteed lifetime benefits |
Level, payable usually to age 95 or 100 |
Guaranteed build-up — participating policies may build up beyond amounts guaranteed |
Forced savings element; Fixed premiums; Low-rate loans; Guaranteed cash values; Income tax advantages |
Rates higher than term — Insured may not be able to afford adequate coverage; Investment return usually marginal |
Lifetime need for insurance; Client prefers fixed, guaranteed investment return |