UK Accounting Glossary
Adjustable life insurance is a form of life insurance that allows the policyholder to manipulate the coverage plan in various ways. Adjustable life insurance enables the owner to raise or lower the face amount, as well as increase or decrease the insurance premium. As such, the accumulated cash value of the adjustable life insuinsurance policy will also vary. In addition, adjustable life insurance provides the owner with the option to change the period of coverage. By the same token, adjustable life insurance policyholder may also fine-tune the time span of the premium payment. Adjustable life insurance offers just the right amount of coverage for the premium that can be best tolerated. Thus, for all its flexibility, an adjustable life insurance is often a popular choice among consumers. Adjustable life insurance is also known as flexible premium adjustable life insurance.
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This glossary post was last updated: 4th February 2020.