There are tests designed to make sure that life insurance policies meet the needs and terms so that they will still be considered an actual life insurance policy.  These tests may help you in determining what to look for when you are looking to get life insurance quotes.

One such test is the Cash Value Accumulation Test (CVAT) which typically looks over and compares a policy to make sure that the cash value of the policy will not exceed the premium which would be needed to payout future benefits.  Another life insurance test is the Guideline Single Premium Test which typically makes sure the payments that are made towards the policy will not be over the funds that will be needed to pay out the future benefits.  It also makes sure that cash value of the policy is such that it will not go beyond a portion of the death benefits.

For a life insurance policy to actually be considered a true life insurance policy, it will typically need to pass one of these two tests.  If your life insurance policy does not pass one of the two tests, it may be subjected to disadvantages such as loss in tax deductions and other benefits.  If it does not pass one of the tests, typically it may be turned into a Modified Endowment Contract (MEC) instead of a life insurance policy.