A variable universal life (VUL) is a type of permanent life insurance with an integrated savings component that allows the cash value to be invested.
By purchasing variable universal life insurance you get more control than with other types of life insurance products. Premiums can fluctuate, death benefits can be increased or decreased, and you can invest your money in a variety of investment alternatives or fixed-rate products. Thus, VUL can solve two concerns at once for those who see life insurance as both a source of protection and investment. However, it’s important to remember that variable insurance products overall are more complex than their standard counterparts and require more attention and knowledge. If the market does not perform well, you can end up with no value in your cash account. That’s why many consumers choose options that are less hands-on yet are more predictable.
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