Which policy type allows for the same coverage to increase over time?

The increasing term policy is designed specifically to address the need for the coverage amount to escalate over time. This type of policy provides a death benefit that increases at specified intervals, allowing for adjustments that can keep up with inflation or the changing financial needs of the insured. The structure of this policy is such that it offers initial protection at a base level, which then incrementally grows, ensuring that the coverage remains relevant as economic conditions fluctuate or as the policyholder's circumstances change.

In contrast, term insurance generally provides a fixed death benefit for a specified term without any increase, and whole life policies offer a guaranteed death benefit with a cash value component, but do not usually increase in coverage over time. Universal life insurance is flexible regarding premiums and death benefits, but it does not inherently offer an increasing death benefit unless a specific rider is added. Therefore, when considering a policy type that inherently allows coverage to rise systematically, the increasing term policy is the definitive answer.