In an adjustable life insurance policy, which aspect cannot be changed without undergoing further underwriting?

In adjustable life insurance policies, certain features can be modified to fit the policyholder's evolving needs, but the identity of the insured is a fixed element. Changing the insured individual would require a new policy, as the underwriting process evaluates the health and risk profile of the individual to determine insurability and premium rates.

Adjustable life insurance allows for flexibility in other aspects, such as the amount of coverage, premium payment period, and plan of coverage. These components can be adjusted by the policyholder without the need for additional underwriting. However, once the insured is set, it cannot be altered without initiating a completely new policy. This concept highlights the importance of the insured’s health and profile, which are central to the terms of the existing policy and the overall risk assessment performed during underwriting.