| A single policy combining whole life and decreasing term coverage; Provides family income after the death of the insured for a set term of years measured from policy inception |
Level throughout policy term |
Guaranteed cash build-up will be slower than for traditional whole life because part of the premium is paying for term protection |
Provides a stream of income upon death of insured; Cheaper than Family Maintenance policy |
Not very flexible; Amount of family income need may not be foreseeable at purchase; May result in overinsuring children and underinsuring wage earners |
Provide income protection while children are expected to be dependents |