Can you explain indererminate premium life insurance?

Indeterminate premium life insurance is a type of permanent life insurance that provides lifelong coverage with flexible premium payments. Unlike other types of permanent life insurance, such as whole life insurance, the premiums for an indeterminate premium life insurance policy are not fixed and can vary over time. When you purchase an indeterminate premium life insurance policy, the insurance company sets an initial premium amount based on your age, health, and other factors. However, the premium can be adjusted over time based on a variety of factors, such as changes in the insurance company's expenses or investment performance. The advantage of an indeterminate premium life insurance policy is that it can offer more flexibility than a traditional whole life insurance policy, which has fixed premium payments. This can be beneficial if your financial situation changes and you are unable to keep up with the premium payments for a fixed premium policy. However, the downside is that it can be more difficult to budget for the premium payments, as they can fluctuate from year to year. Additionally, there is a risk that the premiums could increase significantly over time, making the policy more expensive than anticipated. It's important to carefully consider your financial situation and goals before choosing an indeterminate premium life insurance policy. You may want to consult with a financial advisor or insurance professional to help you understand the pros and cons of this type of policy and determine whether it's the right choice for your needs.