Variable Universal Life Insurance

Do you want lifetime insurance protection for your family that is also a potentially lucrative retirement vehicle? Variable universal life insurance can provide the best of both those worlds; however, the risks associated with these products can be quite costly.

What Is Variable Universal Life Insurance?

Variable universal life insurance is a life insurance product which gives a policyholder protection for an entire lifetime, offering a death benefit payable to beneficiaries upon the policyholders passing. It also, like guaranteed universal life insurance and whole life insurance, offers a savings option, also known as cash value. The savings option in variable universal life insurance lets you choose from a variety of mutual funds in order to enhance your investing strategies. The opportunities to gain large amounts of cash value – income which can be used for retirement purposes – are multitude. However, there is no guarantee that these investments will profit and, in a very rocky economy, will lose value.

Benefits of Variable Universal Life Insurance

Variable universal life insurance plans do have some benefits:

  • Investment Returns – For those willing to take on risk, variable universal life insurance offers a chance to reap some serious rewards if the chosen mutual funds do actually perform well. But those are some heavy risks to undertake in a very rocky economy.
  • Flexibility – Like guaranteed universal life plans, owners of variable universal life insurance policies are not required to pay regular fixed premiums. People willing to pay beyond their premiums can also add on to the cash value to try and bolster their returns.
  • Lifetime Coverage – Variable universal life insurance guarantees lifetime financial protection for your loved ones. Even if the savings component of the plan doesn’t fare well, your beneficiaries are still guaranteed the death benefit and the security it provides.

Variable universal life insurance policies can become profitable. However, the associated risks can prevent you from having a Crash Proof retirement. Contact a First Senior Financial Group educator today for a free consultation on the perils of variable universal life insurance products.


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