Adjustable Life Insurance

An adjustable life insurance policy is one that allows policy holders to change certain aspects. With this type of policy, the policy holder can customize a policy that best works for her. This policy can be adjusted to changes in coverage needs for the insured as well.

Adjustable Policy Features

For example, you could change the face value of the policy or even change the term of the life insurance policy. You could potentially shorten the term of the coverage in order to increase the total value of the policy. You could also change the premium amount of the insurance policy.

Cash Value

This type of policy also accumulates a cash value. Typically, a portion of the premium payment goes into a side account that earns interest over time. This makes it a type of insurance policy that carries with it some features from term life insurance as well as some features from whole life insurance. This makes it easy to change features of the policy without having to cancel an existing policy and buy another one.

blog comments powered by Disqus