Which policy is also known as flexible premium adjustable life and allows increasing or decreasing premium payments and even skipping a premium if cash value is sufficient?

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This type of policy is built around the idea of control over how you pay for protection and how large the benefit is, using the cash value as a funding source. Flexible premium adjustable life lets you increase or decrease premium payments and even skip a premium if the cash value has grown enough to cover the ongoing costs. The cash value acts like a reserve that the insurer can draw from to pay the policy’s charges when you don’t pay a full premium, so your coverage can continue without interruption. As you adjust premiums, the death benefit can also be adjusted, within policy rules, reflecting how much protection you want and how much cash value has accumulated. If the cash value dwindles and can no longer cover the costs, the policy could lapse or the death benefit may be reduced.