What type of flexibility does a VUL policy offer?

A Variable Universal Life (VUL) policy is designed to provide significant flexibility to policyholders, particularly in terms of premium payments and death benefits. This flexibility allows policyholders to adjust their premium payments within a specified range and to increase or decrease the death benefit based on their changing financial needs and goals.

This adaptability is one of the key features of a VUL policy, making it an appealing option for individuals looking for a dynamic life insurance product that can evolve over time. Unlike traditional life insurance policies, which typically have fixed premiums and benefits, a VUL policy can adjust to the policyholder's financial situation, such as an increase in income or changes in family circumstances that may necessitate higher coverage.

By allowing policyholders to modify their premiums and death benefits, VUL policies serve those who may experience varying financial capabilities and who desire a tailored approach to life insurance coverage that aligns with their long-term financial planning.