All of these are valid options for an Adjustable Life Policy EXCEPT?

An Adjustable Life Policy provides flexibility in various aspects, such as the premium payments, death benefits, and protection periods. The characteristic that is not valid in this context is the notion that a nonforfeiture option can be used to increase the death benefit.

Nonforfeiture options are provisions that ensure policyholders receive some benefit if they stop paying premiums. These options typically involve cash value accumulation and are designed to prevent total loss of benefits in the event of policy lapse. They do not serve to increase the death benefit but rather to uphold some value for the policyholder, ensuring that they have options available if they can no longer continue premium payments.

In contrast, the flexibility to modify the protection period, alter premium amounts, and adjust death benefits are central features of Adjustable Life Policies, allowing policyholders to tailor their coverage to meet changing financial needs and circumstances.