Do you have certain life insurance goals you hope to reach? Choosing the right type of plan can help make those goals a reality. At Aflac, we provide Aflac® Life Solutions— Term Life or Whole Life plans to keep your coverage straightforward. We do not offer variable universal life insurance, but it might be an option worth considering depending on your coverage goals. Read on to learn what variable universal life insurance is, its pros and cons, and how this life insurance plan compares to other policies. What is Variable Universal Life Insurance? Variable universal life insurance is a policy that works like indexed universal life insurance, but the cash value portion of the account is...
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Variable life insurance combines coverage with investing to help policyholders grow their wealth. Getty Images Life insurance is a type of insurance policy that pays your dependents when you pass away. It can be a good way to provide for your spouse, children and other loved ones — particularly if they rely on your income to get by. When choosing a life insurance policy, there are many types to consider. Variable life insurance — which also contains an investment component — is one of these options. Here's what you should know about the benefits of variable life insurance. What are the benefits of variable life insurance? Variable life insurance policies have quite a few...
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Group Variable Universal Life Insurance To the maturity age specified in the certificate. In some program designs, if the employer replaces MetLife GVUL with another group life insurance plan or otherwise terminates the MetLife group contract, employees’ coverage may also be terminated, even after separation from employment or retirement. The current crediting interest rate on the interest-bearing account is subject to change without notice. Guarantees are subject to the financial strength and claims paying ability of Metropolitan Life Insurance Company. Withdrawals reduce the death benefit and cash value and thereby diminish the ability of the cash value to serve as a source of funding for...
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Administrative Code Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report. 14VAC5-80-340. Qualification to sell variable life insurance. Qualifications of Agents for the Sale of Variable Life Insurance A. No person may sell or offer for sale in this Commonwealth any variable life insurance policy unless such person is currently licensed by the Commission as a life and health insurance agent, is authorized to represent the insurer through which the policy is offered and evidence...
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What is variable life insurance? Variable life insurance is a policy that provides a pay out to your beneficiaries when you die, and the opportunity to earn money. These policies are valid for the rest of your life, or as long as you pay the premium. That payment is fixed, meaning what you pay now is what you’ll pay until death. Part of the premium pays for the death benefit, and part of it goes into an account, where the money can be invested. That’s known as the cash value, which you can borrow against. The policy is “variable” because the cash value can fluctuate depending on where it is invested. Companies can offer a number of different options to choose from, including stocks and...
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It’s important to know all of your options for a life insurance policy before choosing one. Variable life insurance, one of those options, is also known as variable appreciable life insurance. In this article, we will explore what it is and how it works, who needs it, what the pros and cons are, if it’s worth it and your alternatives to variable life insurance. What is variable life insurance? Variable life insurance is a permanent life insurance policy that includes an investment. This type of life insurance policy is one that will stay with you for life, so long as you pay the premiums. The investment portion of the policy includes many sub-accounts, which may include stocks, bonds, money...
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A white circle with a black border surrounding a chevron pointing up. It indicates 'click here to go back to the top of the page.' What is variable life insurance? Variable life insurance has a cash value portion that's invested in the stock market. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards. Variable life insurance is a type of permanent life insurance, meaning it never expires. In...
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Buying life insurance may seem optional if you’ve never had a policy before, but it may actually be more important than insurance you buy for your home or your car. After all, a life insurance policy can protect your family from financial hardship and stress in the event of your untimely death, and what could possibly be more important than that? Of course, there are many types of life insurance you can buy. Variable life insurance is one of the main types to consider if you prefer to have lifetime coverage with an investment component. However, this type of life insurance comes with considerable risk that you should know about and understand before you consider purchasing a policy. What...
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Shopping for life insurance seems straightforward, but buying the right policy means knowing what each type of coverage offers. For example, variable universal life insurance provides a death benefit and includes an investment option, while another might offer the death benefit only. Here we'll look at what makes a VUL policy a unique life insurance product, and see how it differs from other types of permanent insurance. What is variable universal life (VUL) insurance? A variable universal life (VUL) policy is a type of permanent life insurance that includes policy cash value, variable investment options, flexible premiums, and a flexible death benefit that can be used in more than one...
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Your browser does not support Javascript. You should still be able to navigate through these materials but selftest questions will not work. 3.7.1 Variable Insurance Products To sell variable insurance products, an individual must hold a life insurance license and a Financial Industry Regulatory Authority (FINRA) registered representative's license. In Florida, agents who have fully satisfied the requirements for a life insurance license, including successful completion of a licensing exam that covers variable annuities, may sell or solicit variable annuity contracts. Variable insurance products are considered securities contracts as well as life contracts and contain no contract value...
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