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How is variable whole life different from variable universal life?Variable life insurance is a type of permanent life insurance with a flexible death benefit — the amount paid when you die. Variable universal life insurance, often called VUL, has a similar flexibility in its death benefit, while also offering adjustable premium payments.
In which way is variable whole life different from variable universal life quizlet?How is Variable Whole Life different from Variable Universal Life? Generally speaking, Variable Whole Life has a guaranteed minimum death benefit provided that all premiums are paid in full and on time as scheduled, whereas a Variable Universal Life policy has no guaranteed death benefit.
How is a variable universal life insurance policy different from a universal life insurance policy quizlet?Whole life --- Premium payments: Variable and whole life insurance premiums are generally paid in fixed amounts at fixed dates. Universal life insurance premium payments are flexible in timing and amount. Variable universal life has flexible premiums.
What is the difference between whole life term life and universal life?Unlike whole/universal life insurance, a term policy has no value other than the death benefit. One of the biggest benefits of term life insurance is that premiums remain the same throughout the term of the policy, which provides cost certainty.
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How is variable whole life different from variable universal life quizlet
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