Definitions for "variable life"
Life insurance for which the amount of the payments is determined by the performance...
Variable life is a type of life insurance where money that remains after payment of premiums is invested in vehicles of your choosing. Variable life is a hybrid of traditional life insurance and a variable annuity. Variable life does have the option of a minimum guaranteed death benefit. However, variable life can be expensive and risky, depending on the type of investments made.
A policy allowing premium payments to vary within certain limits at the option of the policyholder.
Valuation Clause Voluntary bankruptcy