adjustable life insurance

Definition

Life insurance for which the policyholder can change the details of the plan, including the face amount, premium, and coverage period.

Use this term in a sentence

You may want to try and get some adjustable life insurance so that you can change things as time goes on.

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The client expressed interest in having flexibility in their plan so we set him up with the adjustable life insurance plan.

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Following the agent's lengthy presentation of my insurance choices, I opted to go with an adjustable life insurance policy so that I can afford it now and then increase my coverage once I am earning more money.

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adjunction adjustable rate