What is an option available to policyholders of Adjustable Life insurance?

Adjustable Life insurance is designed to offer flexibility to policyholders, particularly regarding premium payments and coverage amounts. One of the key features of this type of policy is the ability to adjust premium payment amounts. This means that policyholders can increase or decrease their premium as needed, which can be especially beneficial for individuals whose financial situations may vary over time.

By allowing adjustments to the premium payments, Adjustable Life insurance provides policyholders with the opportunity to manage their insurance costs according to their current needs and financial capabilities. This flexibility is a significant advantage, as it helps ensure that the policy remains affordable and relevant throughout the policyholder's life events such as changes in income or lifestyle.

The other options do not accurately reflect the main characteristics of Adjustable Life insurance. For instance, converting a policy to a term policy generally does not apply directly to Adjustable Life insurance, as it is primarily a whole life product with adjustable features. Similarly, terminating the policy without penalty is not a standard feature and may not be readily available. While some policies may allow certain adjustments, increasing coverage without additional underwriting typically does not align with the conditions of most life insurance policies, including Adjustable Life insurance.