Variable Life Insurance
Definition
- A life insurance policy that allows the policyholder to allocate a portion of his or her insurance premiums into an account within the insurance company's investment portfolio which is comprised of a variety of financial instruments such as stocks, bonds, and equity funds. Due to investment risks the beneficiaries will receive a variable death benefit.
Synonyms
variable life insurance benefit, variable death benefit
Acronyms
VLI
Related Terms and Acronyms
- Death Benefit (DB) — Acronym, Very Important,
- A payment or series of payments made to the beneficiaries of a life insurance policy.
➥ An amount paid to a beneficiary in a life linsurance policy. - Flexible Premium Variable Life Insurance (FPVLI) — Acronym,
- General Account (GA) — Acronym, Very Important,
- Investments and assets that an insurer uses for paying benefits and claims.
- Life Insurance — Definition, Very Important,
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
➥ CanEquity offers life insurance. - Second-To-Die Insurance — Definition,
- Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
- Segregated Fund — Definition,
- Investment vehicles that feature both maturity and death guarantees. Segregated funds share similarities with mutual funds but are categorized as insurance products.
- Variable Death Benefit — Definition,
- A life insurance death benefit that differs depending on how well the insurance company's investment portfolio fares.
- Variable Universal Life Insurance (VULI) — Acronym, Important,
- A form of life insurance with adjustable premiums, flexible investment options, and tax efficiency.
