Final answer:
The changes in premium payments, face values, and loans in a life insurance policy are controlled by the insurance company itself.
Step-by-step explanation:
The changes in premium payments, face values, and loans in a life insurance policy are controlled by the insurance company itself.
Insurance companies have the authority and responsibility to adjust premium payments based on various factors such as the insured's age, health condition, occupation, and policy coverage.
Similarly, they determine the face value or death benefit of the policy, which is the amount paid to the beneficiaries upon the death of the insured.
In addition, insurance companies may allow policyholders to borrow against the policy's cash value, setting the terms and conditions for loans