{"id":110427,"date":"2025-11-20T03:43:55","date_gmt":"2025-11-19T16:43:55","guid":{"rendered":"https:\/\/vulinsurance.com\/life\/?p=110427"},"modified":"2025-12-18T09:40:28","modified_gmt":"2025-12-17T22:40:28","slug":"process-changing-policy","status":"publish","type":"post","link":"https:\/\/vulinsurance.com\/life\/process-changing-policy\/","title":{"rendered":"The Process of Changing a VUL Policy"},"content":{"rendered":"<h2><span style=\"color: #666666; font-size: 14px;\">Circumstances can shift enough that you need to modify your existing VUL life insurance:<\/span><\/h2>\n<h3>Face Amount Increases<\/h3>\n<p>If you require higher coverage, the insurer might need additional underwriting to confirm your current health status. Approval isn\u2019t guaranteed, and your COI will likely rise if approved.<\/p>\n<h3>Face Amount Decreases<\/h3>\n<p>Lowering coverage is usually more straightforward and may reduce monthly charges. However, confirm whether surrender charges apply if the change is made early in the policy\u2019s life.<\/p>\n<h3>Adjusting Riders<\/h3>\n<p>You might add or remove certain riders, but this can also require underwriting or come with new fees. The availability of riders can change, so older policies might have riders that are no longer offered to new customers, or vice versa.<\/p>\n<h3>1035 Exchanges<\/h3>\n<p>In some jurisdictions, you can execute a tax-free exchange from one life insurance policy to another that may have more favorable terms or lower fees. This is often referred to as a \u201c1035 exchange\u201d in certain places. Always verify details with a tax professional to avoid unintended tax consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circumstances can shift enough that you need to modify your existing VUL life insurance: Face Amount Increases If you require higher coverage, the insurer might need additional underwriting to confirm your current health status. Approval isn\u2019t guaranteed, and your COI will likely rise if approved. Face Amount Decreases Lowering coverage is usually more straightforward and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"The Process of Changing a VUL Policy - VUL Life Insurance Australia | Best Variable Universal Life Plans &amp; Flexible Premium Options","description":"Circumstances can shift enough that you need to modify your existing VUL life insurance: Face Amount Increases If you require higher coverage, the insurer might"},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-110427","post","type-post","status-publish","format-standard","hentry"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pgBVJq-sJ5","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/posts\/110427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/comments?post=110427"}],"version-history":[{"count":0,"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/posts\/110427\/revisions"}],"wp:attachment":[{"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/media?parent=110427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/categories?post=110427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vulinsurance.com\/life\/wp-json\/wp\/v2\/tags?post=110427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}