Which life insurance policy would likely include an automatic premium loan provision?

The automatic premium loan provision is primarily associated with whole life insurance policies. This feature allows the insurer to automatically use the accumulated cash value of the policy to cover premium payments that are due if the policyholder fails to make the payment. This ensures that the policy does not lapse due to non-payment, as the cash value acts as a backup source of funds for premiums.

Whole life policies are designed to provide lifelong coverage with predetermined premiums and a cash value component that grows over time. The automatic premium loan provision is a safeguard for policyholders, helping maintain their insurance coverage even in challenging financial situations.

In contrast, term life insurance does not accumulate cash value, universal life insurance offers flexible premium payments and death benefits, and variable life insurance allows for investment options with fluctuating cash values. None of these types typically include an automatic premium loan provision to the extent that whole life policies do, as they function under different principles of coverage and investment.