Depending on how the interest is credited, the internal rate of return are higher because it moves with the rate current interest (interest sensitive) or financial markets (equity indexed annuity Universal and Variable Universal Life). Mortality costs and administrative burdens are known. And the current value can be considered easier to achieve because the owner can discontinue premiums if the cash value allows it.
Flexible death benefit means that the owner of the policy may choose to reduce the death benefit. The death benefit can also be increased by the holder of the contract, but (usually) require that go performed by the subscription of news. Another example of a flexible death benefit is the ability to choose Option A death or option B - and these options are able to change during the life of assured.
Option A is often referred to as a death benefit level. In general, the death benefit remains at the life of insured and premiums should be lower with a political death benefit Option B.
Option B pays the face amount plus the cash value. If the cash value grow over time, it would be the death benefit paid to beneficiaries of assured. If the lower current value, it would also reduce the death benefit. Presumably Option B death benefit policies require a higher premium than the option policy.
