A type of permanent life insurance coverage, variable life insurance offers a death benefit component, while still allowing policyholders a certain level of flexibility in how they invest their money. Because policyholders can invest in a variety of different assets, variable life insurance allows for greater asset diversity and control over specific allocation of resources. For policyholders with investing experience, this can translate in to increased value of the insurance plan.
Like many other life insurance plans, variable life insurance plans feature fixed premium amounts, eliminating any worry policyholders may have about increasing premiums. In many cases, policyholders can also borrow funds in the investment component of the plan. In general, variable life insurance is a suitable option for policyholders who want to take an active role in the management of their insurance policies.