What is the primary purpose of adjustable life insurance?

The primary purpose of adjustable life insurance is to offer flexibility in coverage and payments. This type of insurance allows policyholders to tailor their insurance needs as their situation changes. For instance, individuals can adjust the death benefit or the premium payments to suit their current financial status and life circumstances. This adaptability makes adjustable life insurance appealing to those who want to maintain coverage that aligns with their evolving needs over time.

By being able to modify both the amount of coverage and the premium payments, policyholders can ensure that their insurance remains effective and relevant, accommodating increases or decreases in income or changes in family dynamics. This flexibility is not typically offered by more rigid insurance products.