Variable life insurance

{
  "id": "MLC-T-FIN-000391",
  "term": "Variable life insurance",
  "field": "Finance and investing",
  "term_source": "Variable Life Insurance",
  "definition": "A variable life insurance policy is a contract between you and an insurance company. It is intended to meet certain insurance needs, investment goals, and tax planning objectives. It is a policy that pays a specified amount to your family or others (your beneficiaries) upon your death. It also has a cash value that varies according to the amount of premiums you pay, the policy’s fees and expenses, and the performance of a menu of investment options - typically mutual funds - offered under the policy.",
  "references": [
    "SEC Investor.gov Glossary"
  ],
  "url": "https://mlchart.com/terminology/finance/variable-life-insurance/"
}