Variable Life Insurance

Variable life insurance has a cash value account that grows over time and adds to the death benefit of the variable life insurance policy. Variable life insurance is variable because you can put the cash value in a variety of different separate accounts, kind of like a mutual fund.

A variable life insurance policy can give you the option of skipping life insurance premiums and some policies allow you to subtract life insurance premiums from the savings account.

A variable life insurance policy is a permanent form of life insurance which means that unlike term life insurance that lasts a specific number of years, variable life insurance lasts until death as long as the policy for variable life insurance is kept in force.