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‘Adjustable Life Insurance’ allows you to vary coverage as your needs change. This life insurance combines features of both term and whole life coverage which allows the insured to adjust the life insurance policy, raise or lower the face amount, increase or decrease the premium amount, shorten or lengthen the period of protection and the length of the premium payment period.

Adjustable life insurance is also referred to as Flexible Premium Adjustable Life Insurance or adjustable life insurance and is sometimes used for variable life, in which the face amount and cash value of a policy rely on your investments performance. The insurer calculates the specific plan of insurance that can be provided, based on the death benefit and premium you request.

‘Variable Life Insurance’ policies are whole life cash value policies which offer the insured a choice in how your premium is invested from among a selection of investment alternatives offered by the insurer. The value of your variable life insurance policy depends upon how well the investments you've selected are performing. A variable life insurance policy gives you complete control over your investments, usually you can change your investment portfolio as often as you wish and many people prefer variable life because of this freedom.