T1-L2-P16

Adjustable Life

Adjustable Life is a unique product that can be changed from a variety of level term durations to any of an assortment of straight or limited pay life options; depending on the owner's face value needs and the premium budget amount.

As a term policy, it will often have a COLA rider attached (Cost Of Living Adjustment riders to be covered later).

Because of its flexibility, it tends to be higher cost, both in its term and whole life form than typical products.

Most adjustable life policies contain limits that restrict the changes in face amounts or premium payments to specified minimums and maximums. Typically, increases in the face amount on these policies require evidence of insurability.