What is flexible premium adjustable universal life insurance

Adjustable life insurance, also known as universal life insurance or flexible premium adjustable life insurance, is a type of permanent life insurance that has some of the features of a term life insurance policy. You can adjust your policy's coverage amount, premiums, and premium payment period.

Can you cash out an adjustable life insurance policy?

Cash Out, Buy New Coverage\n\n So, your first option would be to keep your cash value and buy a new policy with higher premiums. You can withdraw any cash surrender value from your current adjustable life policy.

What life insurance has flexible premiums and an adjustable death benefit?

Universal life is a flexible way to get a permanent life insurance policy and build cash value. The premiums are flexible: you can raise or lower payments within certain limits set by the insurance company.

Does universal life offer flexible premiums?

Cons: The downside of this option is that you pay premiums on the full face value for the life of the policy regardless of how much cash value the policy has. So as you increase the face value/death benefit over time, the premium would also increase to keep up with the larger amount of coverage.