Variable Universal Life Insurance
Adjustable coverage with a cash value tied to investment performance.
Variable life insurance comes with a fixed death benefit, but it has a variable cash value. The cash value varies because it is based on the performance of the investments (generally mutual funds) that you choose.
You may be required to maintain a minimum balance in the account, and investment fees may be charged against your account.
The issue with variable life insurance policies is that there is a risk of loss. If the markets drop when you’re ready to withdraw from the cash value, you might lose a significant amount of money.
Some variable policies might give your beneficiary the face value plus your policy’s cash value when you pass away. If the market drops before your beneficiary receives this death benefit, it could be much less than expected because the cash value would fall with the market value of the funds your money was invested in.
Variable Life Insurance – A variable life insurance policy is a contract between you and an insurance company. It is intended to meet certain insurance needs, investment goals, and tax planning objectives. It is a policy that pays a specified amount to your family or others (your beneficiaries) upon your death. It also has a cash value that varies according to the amount of premiums you pay, the policy’s fees and expenses, and the performance of a menu of investment options—typically mutual funds—offered under the policy.
Ready to Protect Your Family’s Future?
Contact John L. Coppeto today to find the right life insurance policy for you and your loved ones.
Phone: (904) 834-9048