Adjustable Life Insurance

As anyone who's ever seen an insurance salesman bit in an old movie knows, there are two main kinds of life insurance: term and whole life. Term life means that it covers you for some set period of time, i.e. there's an expiration date to when the coverage ends. Whole life covers you until, well, you "cash in," or at least until your beneficiaries cash in (because you're dead; we were trying to be delicate, but yes, you're dead in this particular scenario).

Adjustable life insurance splits the difference between these types of products. Customers can literally adjust certain aspects of their coverage, combining beneficial parts of term and whole life policies. This creates a more personalized product, giving customers more choice and more focused coverage.