Most Adjustable Life Insurance Contain a Right to Increase Coverage
The companies that offer AL policies realize that the flexibility to increase the face amount is not that significant if … Read more
Adjustable Life
Will a Change in the Plan of an Adjustable Life Insurance Policy Cause it to Become a Modified Endowment Contract (MEC)?
Generally, a change in the plan of insurance that either lengthens the period of coverage or increases the face amount … Read more
Can Adjustable Life Policyowners Make Unscheduled Additional Premium Payments Similar to Those Permitted for Universal Life?
Most AL policies permit unscheduled additional premium payments. Such payments will lengthen the term of coverage or shorten the premium … Read more
Dividend Options Found in Adjustable Life Insurance Policies
Adjustable Life (AL) policies offer the conventional dividend options—cash, premium reduction, accumulate at interest, and paid-up additions. Some AL policies … Read more
How the Adjustment Provisions of Adjustable Life Differ from the Change Provisions Found in Ordinary Whole Life Insurance Policies
Adjustments in adjustable life (AL) policies are made prospectively only, affecting the future but in no way amending the past. … Read more
Evaluation Tips for Considering an Adjustable Life Insurance
Although policyowners may change the plan of insurance, AL is essentially a traditional fixed premium, fixed benefit policy at any … Read more
Fees and Costs of Acquiring an Adjustable Life Insurance Policy
Life insurance companies are free to set their premiums according to their own marketing strategies. Almost all states have statutes … Read more
When to Use Universal Life Insurance as an Alternative to Adjustable Life Insurance
Universal life is the principal alternative to adjustable life (AL). When the insurance industry introduced AL, the industry promoted it … Read more
Tax Implications of Owning Adjustable Life Insurance
The tax rules for AL policies are generally the same as the tax rules for other types of life insurance … Read more
5 Disadvantages of Adjustable Life Insurance
Knowing the advantages of any given policy is a vital step in making the right decision. However, disadvantages should also … Read more