Which of the following is NOT a common dividend option?

In the context of life insurance, dividends are a return of part of the premium paid by policyholders and can be utilized in several ways. The common dividend options typically provided by whole life insurance policies include options such as one-year term, paid-up additions, and reduced premiums.

One-year term allows policyholders to use their dividends to purchase term insurance for a single year. Paid-up additions allow policyholders to apply dividends to buy additional coverage that is fully paid for and adds cash value. Reduced premiums permit the use of dividends to lower the upcoming premium payments.

In contrast, the option of full cash value is not commonly offered as a dividend option. While policyholders can receive dividends as cash, the full cash value of a policy refers to the total amount available if the policy is surrendered, which goes beyond just the dividends. Therefore, the selection of full cash value does not align with the standard options offered for dividend allocation in life insurance policies.