What Is A Variable Universal Life Insurance Policy? 
A variable universal life insurance policy is a form of permanent insurance . That means that the policy is designed to last the lifetime of the insured . Unlike traditional whole life , the cash value of the policy is not invested in the general fund of the insurance company . Unlike a universal life policy the cash value is not invested in a separate fund . Instead the cash value is invested at your direction into a series of funds that are a part of the companys investment options . 