| Any of various types of cash value policies where premiums are
overpaid in early years so that cash quickly accumulates and income
thereon will be sufficient to pay premiums |
Fixed for traditional policies or "target" for variable
policies |
Depends on type of policy employed, but cash value builds up quicker
than "non-vanish" policies |
If policy performance is (and continues to be) as illustrated, owner
will not have to pay premiums beyond the date illustrated |
If policy investment performance is poor, premiums may never
"vanish," or may reappear after vanishing; If premiums are not
then paid, policy could lapse |
For buyers who want the out-of-pocket payment of premiums not to
extend beyond a given date; Limited pay policies may be better choice if
buyer counts on premiums to "vanish" |