What defines the "Level Death Benefit plus Cumulative Premiums" option in Universal Life Insurance?

The "Level Death Benefit plus Cumulative Premiums" option in Universal Life Insurance specifically indicates that the death benefit provided under this policy will equal the face value of the policy joined with the total premiums paid to date. This structure ensures that upon the death of the insured, beneficiaries will receive not only the guaranteed face amount but also any premiums that have been contributed during the life of the insured.

By combining these two components, this option provides a greater financial benefit to the beneficiaries, as it aims to deliver a more substantial payout than just the face value alone. This contrasts with other options that may restrict the total payable amount based on different criteria or conditions. It is particularly appealing for those looking to ensure that their loved ones are covered by more than just the base face amount in the event of their passing.

In essence, this option highlights the dual benefit aspect of Universal Life Insurance, combining a guaranteed death benefit with progressive savings in the form of premiums accumulated over time.