Variable Life

is a form of whole life that gives permanent protection to the beneficiary upon death of the policy owner. This is generally the most expensive type of cash-value insurance because you can allocate a portion of your premium dollars to a separate account, which can include investment funds within the insurance company's portfolio (such as equity funds, bonds, bond funds, money market funds and stocks). Most variable life insurance policies guarantee that the death benefit will not fall below a specified minimum. Because variable policies are considered securities contracts, there is investment risk and they are regulated by federal securities laws requiring them to be sold with a prospectus.

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