Definitions for "variable universal life"
A form of whole life insurance which combines some features of universal life...
The generic name for a life insurance policy, distinguished by a flexible premium and separate cash value investment accounts.
A type of variable life insurance where the insured selects between investment options for a portion of the premium payment. The insured's beneficiaries receive compensation upon the insured's death based on a minimum payment plus the return on the investments selected. The insured assumes some degree of investment risk, but is guaranteed a minimum return.