YOU ASK:

What is the definition of Variable Universal Life (VUL) Insurance?

WE ANSWER:

Variable Universal Life (VUL) Insurance is a type of permanent life insurance, which combines the characteristics of a variable life insurance with that of the universal life insurance. It follows the variable life insurance in that it gives the owner the flexibility to choose the investment instruments where the policy's cash value will be invested. Meanwhile, it allows the policyowner with flexibility as to how much premium (within limits) he is to pay.

With this, the cash value and the death benefit provided by the policy will vary according to the premiums paid by the policyowner, as well as the performance of the investment instruments selected.

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