As anyone who's ever seen an insurance salesman bit in an old movie knows, there are two main kinds of life insurance: term and whole life. Term life means that it covers you for some set period of time, i.e. there's an expiration date to when the coverage ends. Whole life covers you until, well, you "cash in," or at least until your beneficiaries cash in (because you're dead; we were trying to be delicate, but yes, you're dead in this particular scenario).
Adjustable life insurance splits the difference between these types of products. Customers can literally adjust certain aspects of their coverage, combining beneficial parts of term and whole life policies. This creates a more personalized product, giving customers more choice and more focused coverage.
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Finance: What is commission?112 Views
finance a la shmoop. what is commission? well it's the greatest motivator for
salespeople in the world. it's the money some people make above and beyond their [ commission explained on a large screen]
salary. a little monetary carrot dangling out in front of a salesperson to you
know encourage them to sell sell sell. alright you're an agent who just sold a
house good for you. you get a 3% Commission. the house went for a million
bucks well you get 30 grand for the privilege or at least your brokerage
does, and then you get some piece of that. ok now you're the stock broker who sold
3 million shares of stock. well good for you
you get four cents a share in Commission 120 grand in the pocket of your
brokerage and you get some piece of that Commission. you're the Hollywood agent[equation]
who just inked Brad pitiful into a movie deal worth 20 million bucks, well good
for you your agency gets a 10% commission or two
million dollars. yeah that's for a Dewey Cheatham and Howe agency best one in
Hollywood. yeah they rep Harvey Weinstein. now for someone who's attempting to sell
a polished version of that Harvey Weinstein story well that's a commission
impossible. [man frowns]
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