Variable Life Insurance
Variable life insurance is for those who consider themselves investors. If you want to tie your life insurance policy to the performance of the financial market, then this is your choice.
You decide how your net policy values are to be invested.
Your cash value may have the opportunity to accumulate more rapidly than with other cash value policies, but you incur additional risk. If market performance is poor, your death benefit may decrease, and you may have to pay higher premiums to keep the policy in effect.
As with whole and universal life policies, you may borrow against or withdraw the cash value at anytime. Keep in mind that loans and withdrawals may reduce cash values and the death benefit.
Read your policy carefully for any possible charges associated with these transactions. These policies are sold by prospectus, a valuable disclosure document that you should also read carefully.