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Related Definitions
Variable universal life insurance Variable universal life insurance is a similar to universal life insurance with certain exceptions. Cash values can be invested in a wide variety
Indexed universal life insurance Indexed universal life insurance is a variation of universal life insurance with certain key characteristics; there is a minimum interest rate guarantee; additional interest is credited to the policy based on
Universal life insurance Universal life insurance is a highly modified form of whole life insurance. Part of the premium buys insurance coverage that will be paid if the insured dies. The rest of the premium is invested in high-yield securities that are intended to increase the policy’s cash value more rapidly than that of a traditional whole life policy.
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