| Guaranteed at-death proceeds; Guaranteed lifetime benefits |
Starts low, increases over time — ultimate rate will be higher than
comparable Ordinary Life policy |
Guaranteed build-up (less in early years than Ordinary Life);
Participating policies may have build-up beyond amounts guaranteed |
Forced savings element; Low initial premiums (compared with Ordinary
Life); Guaranteed cash values; Income tax advantages |
Rates higher than term — Cash values build up slower than Ordinary
Life; Investment return usually marginal |
Younger buyers with high needs, low current income (but prospect for
future income increases) |