Which type of insurance product allows policyholders to adjust their death benefit according to their needs?

Question

Quizplus · Accepted Answer

Universal life insurance policies allow policyholders to adjust their death benefit according to their needs. They also offer flexibility in premium payments and may have a cash value component that grows over time. Term life insurance policies have a fixed death benefit for a specific period, while whole life and variable life insurance policies have a fixed death benefit and premium payments.

Which Type of Insurance Product Allows Policyholders to Adjust Their