flexible premium variable life insurance

Definition

A form of life insurance that combines adjustable features from other types of policies into one instrument. First, it allows premium schedules to be designed by the policy owners in both frequency and amount within certain restrictions. Premiums can also be suspended and restarted at the owner's discretion. Second, the benefits can vary depending on the value of investments attached to the policy. There is a guaranteed minimum life insurance benefit regardless of its intrinsic worth from the investment.

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You should try and take out a good flexible premium variable life insurance to make sure your loved ones are covered.

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The flexible premium variable life insurance was the best policy for the risk averse man as he wanted some flexibility in the policy as well.

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With the flexible premium variable life insurance, I combined aspects of policies into one and even changed aspects, all without affecting the guaranteed benefit and payout offered.

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