This keeps the premiums lower than they would be under a permanent policy, which provides for lifetime payment of premiums. (pocketsense.com)
So, yes, in return for guaranteed lifetime payments, you no longer have the ability to tap into that money for emergencies or unexpected expenses or to leave it for your heirs. (realdealretirement.com)
This can't happen with lifetime payments because they are payments based on your lifetime. (retirementstartstodayradio.com)