A type of life insurance where the insured only pays for the cost of protection of death. A form of whole life insurance in which premium payments and coverage is more flexible, allowing increases and decreases without additional sales charges. A life insurance company investment product that combines a savings plan with a small life insurance component to provide certain tax benefits. The savings portion can be invested in a choice of pooled vehicles, including stock funds. A form of whole life insurance that allows the cash value portion to be invested in stock, bond or money market portfolios.
Premiums are high but level, and include the cost of term insurance plus a savings component.
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