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Flexible premium adjustable life insurance is the technical name for universal life insurance.
adjustable life insurance: Many of the most attractive features of both term and whole life are contained in this highly flexible type of coverage.
Adjustable life insurance is essentially a traditional fixed premium, fixed benefit policy.
Some of the key considerations with adjustable life insurance include:
6 problems solved by life insurance Adjustable life insurance: Pros and cons Are you following us on Facebook ?
See also: 5 alternatives to Indexed Universal Life insurance Adjustable life insurance: Pros and cons 10 advantages of term life insurance
Adjustable life insurance is a "flexible premium" "adjustable death benefit" type of permanent cash value insurance.
In contrast with ordinary level premium, level death benefit policies and similar to universal life, adjustable life insurance gives the policyowner the flexibility to change the plan of insurance.
Note that when policyowners make changes to an adjustable life insurance contract, the guarantee period will also change.
Despite its similarities, do not confuse adjustable life insurance with universal life, which is often called flexible premium adjustable life.
In contrast, most adjustable life insurance policies' elements are bundled.
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