Which of these is NOT a valid option for an Adjustable Life Policy?

An Adjustable Life Policy is designed to offer greater flexibility compared to traditional whole life or term policies. The salient features of such policies allow policyholders to adjust premiums, death benefits, and even the duration of the coverage, making them more adaptable to changing life circumstances.

The option regarding the use of a nonforfeiture option to increase the death benefit is not a valid feature of an Adjustable Life Policy. Typically, nonforfeiture options apply to whole life policies, providing alternatives to policyholders who may wish to stop paying premiums but still retain some value from the policy. These options, such as cash surrender or reduced paid-up insurance, do not apply in the same manner to Adjustable Life Policies where the primary focus is on adjusting benefits and premiums directly rather than implementing nonforfeiture provisions.

The other options accurately reflect the flexibility inherent in Adjustable Life Policies. For example, the ability to increase or decrease premiums and modify the death benefit is fundamental to the design of these policies, allowing policyholders to customize their coverage according to their financial situation or needs. Similarly, modifying the protection period is another feature that aligns with the overall purpose of providing flexibility in managing life insurance.