10 years or 20 years
- Lowest possible initial cost
- Coverage may be guaranteed renewable
- Coverage may be guaranteed convertible
- Cost increase at each interval with guaranteed premium
Guarenteed life premiums or payments for 10, 20 years with guaranteed cash values.
- Guaranteed life coverage
- guaranteed cost of coverage
- Premiums for 10, 20 payments/years are guaranteed
- Some companies offering a return of premiums or cash value after 10 or 20 years.
Guaranteed cost of coverage
- Basic premiums cover cost of insurance, additional premiums are invested into interest accounts (short term, long term G.I.C.’s), bonds, equity accounts, or index accounts