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Term Products (Pricing considerations (Lapse/Persistency (important!!!!,…

- - - - large % of prem
      - sensitive to expense allocation
        
        ART: low early prems
    - - erode profits
        cuz min. assets backing it
- - - - insured's net outlay = prem - div; => higher persistency
  - - - Select table
      - Select&Ultimate table
      - Attained Age
  - - - higher healthy life persistency
      - more profitable of perm product
      - higher sales
- - - - slowly increment in early PLT period to YRT schedule
    - - let original risk class continue into PLT