The phrase "preferable alternative" means choosing something that is better or more desirable compared to other options available to you. Full definition
This is a far preferable alternative to having money removed when there is a negative move in the index. (insuranceopedia.com)
This phenomenon due to the increasing popularity as preferable alternative to luxury holiday accommodation offered by 5 - star resort hotels, Bali villas are easily booked out especially in high and peak seasons. (blog.baliwww.com)
Consequently, any other type of policy that meets a policyowner's needs is a suitable, and perhaps preferable alternative if the policyowner does not need the IUL's flexibility or equity indexing feature. (thinkadvisor.com)