What does the Economatic Whole Life policy combine?

The Economatic Whole Life policy is designed to provide both lifelong insurance coverage and an investment component. It typically combines features of a whole life policy with a term rider, allowing policyholders to adjust the amount of insurance coverage they need over time.

The whole life component ensures that there is a guaranteed death benefit and cash value accumulation that grows at a steady rate. By adding a term rider, the policyholder can increase their coverage temporarily, which is especially useful for those who might need additional protection during specific life stages, such as raising children or paying off a mortgage.

This structure enables policyholders to enjoy the security of whole life insurance while also taking advantage of the flexibility and affordability that a term rider provides, making it a balanced option in life insurance planning. The other choices do not accurately reflect the specific characteristics of the Economatic Whole Life policy.