ADJUSTABLE LIFE INSURANCE POLICY

A life insurance contract designed specifically to allow the policy owner to alter the policy’s plan by changing the amount of the coverage or the amount of the premium. The insurer calculates the specific plan of insurance that can be provided based on the requested death benefit and premium. Therefore, an adjustable life insurance policy can use insurance plans that range from a term insurance policy of short duration to a limited-payment whole life insurance policy.

« Back to Glossary Index

Leave a Reply