In insurance terms, which of the following is characterized by its adaptability to changing conditions?

The term that is characterized by its adaptability to changing conditions is universal life insurance. This type of insurance is designed with flexibility in mind, allowing policyholders to adjust their premiums and death benefits over time. Universal life insurance combines a death benefit with a savings component, which grows at a variable interest rate based on current market conditions. This adaptability allows policyholders to change their contributions and benefits in response to their financial situations or personal needs, making it a versatile option in the realm of insurance products.

In contrast, other forms of insurance such as term life insurance provide fixed coverage for a specific period and do not offer the same level of flexibility. Whole life insurance has a predetermined premium and death benefit, which remain constant throughout the life of the policy. Limited insurance typically denotes policies with defined benefits or terms, further lacking the versatility inherent in universal life insurance. Thus, the adaptability of universal life insurance clearly distinguishes it in context of changing conditions.