Variable Life Insurance Law and Legal Definition
Variable life insurance is a form of life insurance whose face value fluctuates in accordance to the value of the dollar, securities or other equity products supporting the policy at the time when payment is due. This insurance provides total protection to the beneficiary upon the death of the policy holder. Variable life insurance is generally a very expensive insurance since it allows the policy holder to allocate a portion of his/her premium amount to a separate account comprised of various instruments and investment funds within the insurance company's portfolio such stocks, bonds, equity funds, money market funds and bond funds.
Legal Definition list
Related Legal Terms
- Abuse in Later Life Program [Department of Justice]
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
