Which policy is characterized by a guaranteed minimum death benefit

Traditional variable life provides a minimum guaranteed death benefit, but many universal variable life products do not, and should investment experience be bad, coverage will terminate if substantially higher premium payments are not made.

What type of policy has a death benefit?

A death benefit is the primary reason someone purchases a life insurance policy; it's the amount of money your insurer will pay out to your beneficiaries if you die during the policy's term.

What is a guaranteed level death benefit?

A guaranteed death benefit is a benefit term that guarantees that the beneficiary, as named in the contract, will receive a death benefit if the annuitant dies before the annuity begins paying benefits.

Which type of insurance policy offers a guaranteed minimum cash value?

Universal life insurance offers a guaranteed minimum interest rate, which means the insurer guarantees a certain minimum return on your money. If the insurer does well with its investments, the interest rate return on the accumulated cash value increases. Many universal life policies offer a no-lapse guarantee.

What is minimum death benefit?

Minimum death benefit means the amount of the guaranteed death benefit, other than incidental insurance benefits, payable under a variable life insurance policy regardless of the investment performance of the separate account.