Which type of insurance policy cannot have an automatic premium loan rider?

A term life policy is designed to provide coverage for a specific period or term, such as 10, 20, or 30 years. It typically does not accumulate cash value like whole life, universal life, or variable life policies do. An automatic premium loan rider is a feature that allows the insurance company to automatically take a loan against the cash value of a policy to pay for an unpaid premium. Since term life insurance lacks a cash value component, it cannot offer an automatic premium loan rider, making it impossible to utilize this feature.

In contrast, whole life, universal life, and variable life policies all possess a cash value element, allowing for various options regarding premium payments, including the possibility of an automatic premium loan. Therefore, these types of policies can include an automatic premium loan rider, as there is cash value available to borrow against in case of a missed payment.