We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

How Do I Choose the Best Flexible Premium Adjustable Life Insurance?

Malcolm Tatum
Updated May 17, 2024
Our promise to you
WiseGeek is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGeek, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Flexible premium adjustable life insurance is a form of whole life coverage that offers a wider range of investment options as well as monthly and semiannual premiums that can be adjusted from time to time. This particular type of adjustable life insurance is often a great way to build an asset that can be drawn upon if necessary during the retirement years, either by borrowing directly against the policy or by using the cash value of the flexible premium adjustable life insurance as collateral for a loan. When choosing this type of life insurance coverage, it is important to consider the total face value of the policy, how long it takes to build cash value in the coverage, and the structure of the premiums.

As with any type of whole life policy, a flexible premium adjustable life insurance plan comes with a set death benefit that is provided to beneficiaries regardless of how long the policy has been in effect, once the minimum waiting period has been fulfilled. This is in contrast to term life policies, in which the insured party must die within the term specified by the policy in order for a beneficiary to be due anything. When identifying the amount of the death benefit, consider the type of end of life expenses that may apply, along with the other assets you would leave behind for your loved ones. If you are not sure how to determine the right amount of coverage, an insurance agent can help evaluate your present circumstances and prospects for the future, and make suggestions on an equitable amount of coverage.

Along with the amount of the death benefit, it is also important to consider how quickly the flexible premium adjustable life insurance will begin to accrue some sort of cash value. Since the asset can be used as collateral to obtain short-term loans or even be borrowed against with the understanding that the outstanding amount of the debt will be deducted from the death benefit if you die before repaying that borrowed amount, you will probably want a plan that begins to build up cash value as quickly as possible. Since some plans will require that you pay in a certain amount or that the policy is in effect for a minimum amount of time before cash value begins to accumulate, check the terms of any plan you consider and identify when and how this accrual process takes place.

One last factor to consider with any flexible premium adjustable life insurance plan is the amount of the monthly premium. While that premium can be adjusted at certain intervals during the life of the plan, such as when you begin to earn more money and want to increase coverage, make sure you can begin with a premium that fits well into your current household budget. Doing so will minimize the chances of finding it difficult to make those premiums and allow you to diligently build up this asset over time.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum , Writer
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including WiseGeek, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.

Discussion Comments

Malcolm Tatum

Malcolm Tatum


Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Learn more
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.