A policyowner may change two policy features on what type of life insurance?

Adjustable Life insurance is designed to offer policyowners flexibility in managing their coverage. Specifically, policyowners have the ability to adjust two primary features: the premium amount and the death benefit. This means that policyholders can increase or decrease the coverage amount according to their evolving financial needs or personal circumstances, and they can also modify how much they pay for the policy, within certain limits.

This adaptability makes Adjustable Life an appealing option for individuals who want a proactive role in managing their life insurance over time, unlike other types of life insurance, which typically have more rigid structures once established. For instance, while Whole Life offers stability with fixed premiums and death benefits, it does not allow such modifications. Modified Whole Life typically involves a gradual premium increase, but does not provide the same level of adaptability. Decreasing Term Life, on the other hand, is designed with a benefit that decreases over time and does not allow for adjustments to the coverage or premiums.