An insulation stripping tool of the pliers-type includes an adjustable pull rod stop device for limiting the extent of travel of the longitudinally displaceable pull rod and the cutting and stripping blades connected thereto, thereby to produce only partial removal of a length of severed insulation layer from an insulated conductor. An adjustable conductor stop device is mounted on at least one of the cutting and stripping blade holders for limiting the extent to which the end of the insulated conductor is inserted into the open mouth of the stripping tool. A stationary scale is mounted on one of the handles adjacent the adjustable conductor stop device.