What type of policy may be suitable for someone with fluctuating income?

An adjustable whole life policy is particularly suitable for someone with fluctuating income because it offers flexible premium payment options and death benefit amounts. This flexibility allows policyholders to adjust their payments according to their financial situation at any given time. For individuals whose income might vary month to month or year to year, the ability to alter premium payments can be invaluable.

Additionally, adjustable whole life policies combine the benefits of whole life insurance, which typically provides lifelong coverage and a cash value component, while allowing for adjustments that can better align with the policyholder's current financial capacity.

This adaptability stands in contrast to fixed whole life policies, which require consistent premium payments and do not accommodate changes in income. Universal life policies also offer flexibility, but an adjustable whole life policy specifically retains the whole life features, making it a more comprehensive solution for those concerned about the long-term nature of their insurance coverage.