What is typically NOT included in the guaranteed features of an ordinary life insurance policy?

In a standard ordinary life insurance policy, guaranteed features generally encompass elements that the policyholder can reliably expect throughout the life of the policy. The death benefit is a key component of any life insurance policy, ensuring that beneficiaries receive a predetermined amount upon the policyholder's passing. Similarly, cash surrender value is a guaranteed feature that allows policyholders to withdraw a certain amount of money if they decide to cancel their policy, as long as it has accumulated sufficient value.

Guaranteed premiums indicate that the premium amount will not change as long as the policy remains in force, providing financial predictability for the policyholder. However, guaranteed dividends are not typically included as a guaranteed feature of an ordinary life insurance policy. While certain types of life insurance, such as participating policies, may offer dividends based on the insurer's performance, these dividends are not guaranteed. Instead, they depend on the financial performance of the insurance company and can vary from year to year, meaning policyholders cannot rely on receiving them like they would the other key features mentioned.