Why Is A Flexible Premium Life Insurance Policy Better Than Fixed Premium Permanent Life Insurance? 
That is a great question ! The deal is that it really boils down to how well you manage your money , in my opinion . The sales pitch for a flexible premium policy is that you have the ability to be `` flexible '' with your payments - you might pay a little more than the premium , skip a payment entirely , or overpay , as you see fit . If you are the type of person that is very closely watching your expenditures , and keeps a sharp eye on your investments , then this policy type can be potentially helpful in the convenience it offers . But ... If you are like the overwhelming majority of Americans -LRB- 77 % - an unbelievable 77 % !! -RRB- that live paycheck to paycheck , part of the 66 % without adequate -LRB- or any -RRB- savings , or the 35 % with a bill currently in collections , this may not be a good thing . The Bible tells us that while `` All things are permissible , not all things are good . '' That is solid wisdom , in this case . The temptation here is to believe that the `` flexibility '' offered here provides you with more wiggle room in payments . While that is true to some degree , the truth is that there is a bottom line cost that has to be regularly covered or the policy goes under and lapses . Once it does , everything that you 've paid into it goes under also . Sadly , what happens to those who have problems with cash flow and/or money management is that they make payments that cover those costs for a while , but slowly start underpaying or skipping payments , and the result is that the minimum premium payment goes up , it becomes unaffordable , more payments are underpaid or missed , and the policy goes down like the Titanic , taking all your money with it . So it is generally my opinion and recommendation that having a single , set premium payment policy is generally a safer bet . If the payment is budgeted for , and prioritized , there is far less chance of the policy falling behind and lapsing . The offer of flexible payments is definitely tantalizing , but then again , most of the things that are bad for us generally are ... Bottom line ? If you are good with your money and keep an eye on your financial matters , there are times when having that flexibility can be helpful . If you feel that money management may be an area of opportunity for you , perhaps the stability of the fixed premium policy would be a safer choice . I hope that helps , if you have any questions , please do not hesitate to inbox me , okay ? Thank you very much for asking ! 