Final answer:
The statement that adjustable life policies are more expensive than both term and whole life policies is false. While adjustable life policies offer flexibility and may have a higher initial cost than term life insurance, whole life insurance tends to be the most expensive due to its lifelong coverage and cash value feature.
Step-by-step explanation:
Most adjustable life policies are more expensive than conventional term policies or whole life policies. This statement is false. Adjustable life policies, also known as universal life policies, offer a combination of features from both term life and whole life insurance. They are designed to provide more flexibility to the policyholder. Policyholders can often adjust the premium payments and death benefits to suit their changing needs. These policies may have a higher initial cost compared to term life insurance, which is designed to offer temporary coverage without cash value accumulation. However, whole life insurance policies, with their lifelong coverage and cash value component, are typically the most expensive of the three types of policies.