Which of the following statements about adjustable life insurance is true? The face amount and premiums can be altered at the same time by the policyholder – Adjustable life insurance combines characteristics of both term and permanent coverage.
Does variable life insurance contain a monetary value?
Adjustable life insurance is a permanent life insurance policy that allows policyholders to modify their premiums and death payments. Adjustable life insurance is a hybrid policy that combines aspects of term life and permanent life insurance. Adjustable life insurance is designed to be permanent as long as payments are paid.
What is an adjustable flexible life insurance policy?
Adjustable life insurance, commonly referred to as universal life insurance or flexible premium adjustable life insurance, is a kind of permanent life insurance that has some characteristics with term life insurance. You can modify the coverage level, rates, and premium payment term of your insurance.