What type of life insurance incorporates flexible premiums and an adjustable death benefit?

“Variable universal life insurance draws upon the features of two types of cash value insurance – universal life and variable life. Like universal life, variable universal life incorporates flexible premium payments, an adjustable death benefit and death benefit options.”Click to see full answer. Likewise, people ask, which type of life policy contains a monthly mortality charge?Variable Universal Life is comprised of monthly mortality charges and self directed investment choices.One may also ask, what type of life insurance are credit policies issued as? Most Credit Life Insurance is issued as a Decreasing Term Life Insurance policy. The premium stays the same but the coverage amount decreases over time because the debt is being paid down by the insured. This is a group policy in most instances. Keeping this in view, what kind of life insurance product covers children under their parents policy? Family plan policies usually cover the family head with permanent insurance and the coverage on the spouse and children is term insurance in the form of a rider.What type of insurance offers permanent life coverage with premiums that are payable for life?Whole Life Insurance Provides Fixed Premiums and Fixed Death Benefit. In most cases, the premium and death benefit stay constant for the duration of a whole life insurance policy, says the III. A universal life insurance policy, on the other hand, may offer the option to adjust your premiums or death benefit over time.