On what type of life insurance can a policy owner change two policy features?

• A. Term life
• B. Whole life
• C. Adjustable life
• D. Universal life

Answer: (C)

Adjustable life is built for flexibility, allowing the policyowner to modify two key features as needs change: the premium payments and the death benefit. This type of policy blends elements of term and permanent life, letting you increase or decrease the coverage amount and adjust the premium (within available limits and with any required underwriting if you raise the benefit). That dual adjustability is exactly what this item is highlighting.

Term life fixes both coverage and premium for a set period, so you can’t change features midterm. Whole life also has a fixed premium and a level death benefit. Universal life offers flexibility too, but the standout concept here is a policy designed specifically to change two features—premium and death benefit—without switching policies.