Variable Life
Under the variable policy, the death payment rises or falls depending on investment results ; but a minimum death benefit is guaranteed. The insurance company assets that underly the benefits of variable life insurance are held in separate accounts invested principally in equity - type securities. By year-end 1979, more than $380 million of variable life insurance was in force.

Adjustable Life
Adjustable life insurance permits a person to switch coverage from term insurance to whole life and back again, as needs change. The essence of adjustable life is flexibility; its holder can, within limits, raise or lower the face amount of the policy, increase or decrease the premium, and lengthen or shorten the period of coverage. Some life companies balk at initiating such a program because of the high administrative costs entailed if policyholders demand constant policy changes. Proponents contend that, because adjustable policies are attractive to consumers and cost them less than other life options, additional sales can make adjustable pol icies as profitable to the insurer as any conventional 

1981 DOC U_S_Industrial_Outlook