What is adjustable life insurance?

Adjustable life insurance allows you to make changes to the cash value, premiums, and death benefit. It gives you the flexibility to adjust your insurance coverage based on shifting life events. Adjustable life insurance includes a savings component known as cash value. As the cash value grows, you may borrow from it or use it to pay your premiums.

Is adjustable life insurance a good choice?

Adjustable life insurance is the most flexible type of insurance available. It is attractive if you want the protection and cash value benefits of permanent life insurance yet need or want some flexibility with policy features. Changing the death benefit may require additional underwriting or possibly an updated medical exam.

What factors can be changed in an adjustable life insurance policy?

Three factors can be changed in an adjustable life insurance policy. These are the premium, cash value, and death benefit. All three elements can be adjusted because this policy is a permanent life insurance policy and does not expire, as a term life policy does.