How Exactly Does A Flexible Premium Adjustable Life Insurance Policy Work? 
Assuming the question is addressing current assumption universal life , here is basic chronology to the mortality mechanics.The word flexibility infers to the ability to modify the death benefit , the premium or both . When a premium is paid int the policy , the policy expenses are paid : policy fee , premium loads , admin charges and the cost of insurance . Whatever earnings of the policy are then applied to the remaining premiums and/or cash values . 