variable universal life insurance
variable universal life insurance see life insurance

Merriam-Webster’s Dictionary of Law. . 1996.

variable universal life insurance
A type of whole life insurance that provides greater potential for financial gain — and brings greater risks. Like universal life insurance, variable universal life insurance offers flexible premiums, payment schedules, and benefits. But variable universal life policies are riskier because the premiums are invested in stocks, rather than more predictable money market accounts and bonds. Also called universal variable life insurance.
Category: Personal Finance & Retirement → Life Insurance
Category: Wills, Trusts & Estates → Getting Your Affairs in Order

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • 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 …   Wikipedia

  • Variable Universal Life Insurance - VUL — A form of cash value life insurance that offers both a death benefit and an investment feature. The premium amount for variable universal life insurance (VUL) is flexible and may be changed by the consumer as needed, though these changes can… …   Investment dictionary

  • Variable Survivorship Life Insurance — A type of variable life insurance policy that covers two individuals and pays a death benefit to a beneficiary, only after both people have died. Variable Survivorship Life Insurance does not pay any benefit when the first policyholder dies.… …   Investment dictionary

  • Universal life insurance — Universal Life is a type of permanent life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value. The cash value is credited each… …   Wikipedia

  • universal life insurance — see life insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. universal life insurance …   Law dictionary

  • Universal Life Insurance — A type of flexible permanent life insurance offering the low cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and …   Investment dictionary

  • Equity-Indexed Universal Life Insurance — A permanent life insurance policy that allows policyholders to tie accumulation values to a stock market index. Indexed universal life insurance policies typically contain a minimum guaranteed fixed interest rate component along with the indexed… …   Investment dictionary

  • universal variable life insurance — see life insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • life insurance — n: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance: whole life insurance in this entry straight life insurance …   Law dictionary

  • Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… …   Wikipedia

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