| A single policy that houses whole life and term life protection; Owner is able to change face amount and to set premium allocation between whole life and term |
Normally will remain level unless owner changes face amount or the whole life vs. term allocation |
Guaranteed cash build-up will vary with the owner's whole life vs. term allocation |
Provides owner with the flexibility to change face and premium amounts, and to change between whole life and term |
A costly way to buy term insurance if insured heavily uses premium allocation for term protection; Investment return usually marginal |
Young buyers; Buyers needing premium and face amount flexibility |