If a 30-year-old man wants a life insurance policy that can be modified as his needs change, which type of policy is best suited for him?

The answer is adjustable life insurance, as it provides the flexibility that the 30-year-old man desires. This type of policy allows the policyholder to adjust the premium and death benefit amounts as their financial situation and life circumstances evolve. For instance, if he requires more coverage as his responsibilities grow—like purchasing a home or starting a family—he can increase the death benefit. Conversely, if his circumstances change and he needs to reduce his premium payments, he can also adjust the coverage down.

Adjustable life insurance combines features of both term and whole life policies, allowing for greater adaptability compared to standard forms of life insurance. This is particularly beneficial for someone in the early stages of life, as their financial goals and obligations can shift significantly over time.

Whole life insurance, while providing lifelong coverage and a cash value component, does not offer the same level of flexibility in terms of adjusting benefits and premiums. Term life insurance provides coverage for a specified term but lacks the ability to adapt and modify. Universal life insurance is another flexible option, but it may involve more complex features and investment aspects that may not be necessary for someone seeking simple adjustments to their policy. Therefore, adjustable life insurance is the most appropriate choice for his needs.