This allows older contract owners to pay the same premium in later years when mortality expenses rise. (einsurance.com)
The theory is that a portion of the premium you pay goes towards mortality expense and the balance goes into an investment account for you. (bestratesin.com)
Because premiums are deliberately higher than the cost of insurance during the early years when mortality expenses are lower, the premium level can remain constant throughout the life of the contract. (einsurance.com)