Final answer:
An adjustable life policy can be a mix of whole and term life insurance, and the policy can be adjusted to have more term coverage if the premium is decreased. However, when the face amount is increased, the insured is required to provide evidence of insurability. Option f is correct.
Step-by-step explanation:
An adjustable life policy is a type of life insurance that allows policyholders to adjust certain features of the policy over time. It can be a mix of both whole life and term life insurance, or it can be entirely whole or term. This means that statement a is true.
If the policyowner decreases the premium, the policy could be adjusted to have more term coverage. This is because term insurance is generally less expensive than whole life insurance. Therefore, statement b is also true.
When the premium is decreased, the insured is usually not required to provide evidence of insurability. This means that statement c is true.
However, when the face amount of the policy is increased, the insured is typically required to provide evidence of insurability. This is because a higher face amount means a higher risk for the insurance company. Therefore, statement d is false.
In conclusion, all of the statements provided regarding adjustable life policies are true, except for statement d.
Learn more about Adjustable life policies