What term is used to describe features of a life insurance policy that may not be guaranteed?

The term "projected amounts" is used to describe features of a life insurance policy that may not be guaranteed. This commonly refers to estimates of future benefits, dividends, or any other financial projections made by the insurance company based on current assumptions regarding interest rates, mortality rates, and other factors. These projections offer a guideline for policyholders about the potential performance of their policy but do not ensure that these figures will ultimately be realized.

On the other hand, guaranteed amounts refer to specific benefits outlined in a policy that are contractually ensured to be paid, such as the death benefit or cash value in certain policies. Policy elements encompass various components of a policy, including both guaranteed and non-guaranteed features, and insurance coverage generally pertains to the protection against specific risks provided by the policy.