| A single policy combining whole life and level term coverage; Provides family income after the death of the insured for a set term of years measured from the insured's death |
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 |
Period of installment income does not start until death of the insured; Family is assured of installment period that is determinable on date policy is purchased |
Not very flexible; Amount of family income need may not be foreseeable at purchase; May result in overinsuring children and underinsuring wage earners; More expensive than Family Income policy |
Assure income protection for fixed term after death of insured |