This tool combines term-insurance protection and a pure-endowment survival benefit in one transparent calculation. It is useful for learning, reconciliation, and preliminary sensitivity analysis under level annual assumptions.^[1]

The death component sums discounted end-of-year benefits over the term. The survival component pays the same benefit at maturity if the insured survives every year. Since the events are mutually exclusive, their expected present values are added.

The model omits expenses, premiums, surrender, profit participation, changing mortality, and subannual timing. It assumes the death and maturity benefits are equal and paid at policy-year boundaries.

The death portion can be compared with deferred or decreasing term insurance. A standalone pure-endowment calculation is more appropriate when there is no death benefit during the term.