What does "adjustable life insurance" allow?

Adjustable life insurance is designed to offer policyholders greater flexibility compared to traditional life insurance policies. This type of policy allows the policyholder to change both the premium amounts and the death benefit over time. This adaptability can be particularly beneficial for individuals whose financial situations or insurance needs may vary as life progresses, such as changes in income, dependents, or financial obligations.

The ability to adjust these key elements means that policyholders can reduce their premiums during periods of financial strain or increase their death benefit if their obligations or family needs expand. This flexibility is a primary feature that distinguishes adjustable life insurance from other types of insurance, which typically have more fixed terms.

In contrast, changing the beneficiary, opting for a fixed premium only, or adjusting terms solely upon renewal do not convey the core advantage of adjustable life insurance, which is the active and ongoing ability to modify both the premium and the death benefit as required by the policyholder's personal circumstances.