Finance Quick Answers
What is variable life insurance?
Variable life insurance combines the protection and savings element of life insurance with the potential of growth from stocks and/or bonds. You choose the amount of your death benefit at the time you buy the policy. If your investments do well, the death benefit increases over time.
Premiums are paid monthly, quarterly, or annually. You can generally take out loans against the policy at a modest interest rate.
Brenda Procter, M.S., Consumer and Family Economics, College of Human Environmental Sciences, University of Missouri-Columbia
If you'd like to learn more about this and other personal finance topics, the University of Missouri offers 'Personal & Family Finance,' a correspondence course, through the Center for Distance and Independent Study (800-609-3727). Information about this course is available at http://cdis.missouri.edu/CourseInfo/DetailCourseInfo.asp?1985.
Last update: Monday, July 21, 2008