Variable life insurance is a permanent life insurance product with separate accounts comprising various instruments and investment funds, such as stocks, bonds, equity funds, money market funds, and bond funds.
An attractive feature of the variable life insurance product is its flexibility regarding premium remittance and cash value accumulation.
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Premiums are not fixed, as with traditional whole life insurance or term insurance policies. Within limits, policyholders may adjust their premium payments based on their needs and investment goals.