Cash Value Life is the most flexible of all insurance types. Basically, it also offers protection for policy-holders covering their entire lifetime. Unlike the whole life policy though, some premiums are subject to changes depending on different factors. Hence, the type of benefit this insurance affords also varies. That being said, few people tend to choose this insurance type especially since the economy seems to be working against it.Flexible death benefit means the policy owner can choose to decrease the death benefit. The death benefit could also be increased by the policy owner, but that would typically require the insured to go through a new underwriting. Another feature of flexible death benefit is the ability to choose from option A or option B death benefits, and to change those options during the life of the insured. Option A is often referred to as a level death benefit. Generally speaking, the death benefit will remain level for the life of the insured and premiums are expected to be lower than policies with an Option B death benefit. Option B pays the face amount plus the cash value. If cash values grow over time, so would the death benefit which is payable to the insured's beneficiaries.
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