With Adjustable Life, the owner can change all of the following EXCEPT?

In an Adjustable Life insurance policy, the policyholder enjoys a high degree of flexibility concerning various aspects of their coverage. They can typically adjust the premium payments, the death benefit amount, and the duration of coverage based on their changing needs and circumstances.

However, one aspect that cannot be changed is the insured individual. The insured is the person whose life is covered by the policy, and once the policy is issued, the insured cannot be altered. This is a fundamental rule in life insurance because changing the insured would effectively create an entirely new insurance contract that reflects the new individual's risk profile, health status, and insurability.

Thus, while Adjustable Life policies allow for changes in premium, death benefit, and coverage duration, the identity of the insured is fixed and must remain unchanged throughout the life of the policy.