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I don't think it is a terrible product. Many people say will buy term and invest the difference but they actually spend the difference. It's just a forced savings for people who are financially irresponsible.
And yes they have to keep it till the end of the term BUT if they don't plan to do that, wouldn't it be much cheaper for them to buy guaranteed renewable term that is NOT a level premium? Much much cheaper in the early years.
Totally agree, in fact many here that denounce ROP on the basis of cost and lapse issues are against shorter term with Renewable feature as it doesn't cover XX amount of years. Rather bizarre the way some use the same issue as a positive and a negative depending upon how it effects what they sell.