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Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts , similar to mutual funds , and the choice of which of the available separate accounts to use is entirely up to the contract owner.
Universal life insurance (often shortened to UL) is a type of cash value [1] life insurance, sold primarily in the United States.Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.
Indexed universal life (IUL), also known as equity-indexed universal life insurance, links your policy’s cash value growth to a stock market index, such as the S&P 500. While this offers the ...
Indexed universal life (often shortened to IUL) is a type of universal life insurance product that offers a death benefit coupled with a cash value account that can be used to pay policy premiums or take withdrawals and loans. [1]
Variable universal life insurance is a type of permanent life insurance policy, like whole life insurance. The growth in a VUL’s cash value is tax-deferred, like growth in a health savings ...
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Because of its investment features, insurance carriers in the United States typically register offerings of variable life insurance with federal and state securities regulators. To register the offering, carriers typically need to provide some level of detail of the investment selections within the policy.
Variable life insurance includes three main components: lifetime coverage, a death benefit and a cash value. But here’s a closer look at how this insurance product works: Premiums build cash value.