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Changing a life insurance policy can cost money, you could lose money, and it can be a complicated process. Fortunately, there are life insurance policies that will change with your changing needs, such as a variable universal life insurance. This is a great option for someone who expects their situation to change over time. For example, a young person can start with a low variable universal life insurance premium & benefit, increases their variable universal life insurance premium & benefit once they have a family, and then decrease their variable universal life insurance premium & benefit again once their children leave the nest.
The policy design is only one factor. Others include current or future budget, inflation adjusting the ultimate payout, and having a trusted advisor that knows how to blend your need, and budget into a plan that meshes with your personal, company or family vision.