Which of these policies may not have the automatic premium loan provision attached to it?

The automatic premium loan provision is typically a feature associated with whole life insurance policies. This provision allows the insurer to automatically use the cash value of the policy to pay premiums if the policyholder forgets to make a payment. In essence, if the premium is not paid on time, the insurance company can take out a loan against the policy’s cash value to keep it in force.

Decreasing term policies are characterized by a death benefit that decreases over time, usually in alignment with a decreasing financial obligation, such as a mortgage. Such policies primarily provide term coverage without a cash value component, which means they do not typically feature an automatic premium loan provision. Since there is no cash value to draw from, the feature is not applicable.

Whole life, universal life, and variable life insurance policies, on the other hand, often have cash value components that allow for the inclusion of the automatic premium loan provision. In universal and variable life policies, while there may be additional complexities compared to whole life insurance, they still involve cash values that could support such provisions.