Thus, annual renewable term insurance is likely to be the optimum choice for time horizons of only a few years.
1 Corbett and Nelson (1992) show that mortality and expense charges within universal life insurance policies generally are higher than annual renewable term insurance premiums charged by the same companies.
7 Depending on the specific universal life policy and the specific term policy compared, a universal life policy may be superior to a relatively expensive annual renewable term insurance policy, even over short time horizons.
The Flexible Duration No Lapse Guarantee Rider extends not only the base policy but also any Individual Annual Renewable Term Insurance
Rider and any Last Survivor Added Protection Benefit Rider coverage.
They constructed an unbundled alternative to universal life comprised of annual renewable term insurance and an investment fund.
In all cases the median net payment index for annual renewable term insurance was lower than the median universal life mortality and expense charges.
The Flexible Duration No Lapse Guarantee Rider on Versa Flex V extends not only the base policy but also any Annual Renewable Term insurance
rider or Accounting Benefit Rider on the insured up to the insured's lifetime provided the No Lapse Guarantee Value is greater than zero.
The company's products include participating whole life, nonparticipating whole life, twenty-year level term, and annual renewable term insurance