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Variable Universal Life Insurance
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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. The 'variable' component in the name refers to this ability to invest in volatile investments similar to mutual funds. The 'universal' component in the name is a bit of a misnomer that is used to refer to the flexibility the owner has in making premium payments. The premiums can vary from nothing in a given month up to maximums defined by the Internal Revenue Code for life insurance. This flexibility is in contrast to whole life insurance that has fixed premium payments that typically cannot be missed without lapsing the policy.
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Variable universal life insurance is sold only by prospectus. Please consider the investment objectives, risks, charges, expenses, and your need for death-benefit coverage carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained from your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
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Variable universal life insurance (VUL) is a highly flexible product designed to meet a range of personal, estate and business planning needs. Like other types of life insurance, VUL can provide financial security by creating an immediate estate in the event of your death. These death benefit proceeds can be used in a variety of situations:
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S&p Revises Universal Life Insurance Co. Rtg To 'r' One of the conditions is if the insurer gives its consent. It was licensed in 10 states. NEW YORK BUSINESS WIRE July 21, 1999 Continue
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Variable Universal Life Insurance