Variable universal life insurance (VUL) is a product that holds considerable appeal for many investors and policyowners alike, having the investment opportunities of a variable whole life insurance policy coupled with the premium and coverage flexibility of a universal life insurance policy. VUL gives the policyowner control over the allocation of premiums and cash value to a range of investment options.

This course offers a thorough study of this unique life insurance policy type, and it explains the foundations for VUL insurance: universal life and variable life. It reviews how these products function, how they are funded, and when they may be appropriate choices for insurance clients. The course explains in detail the product’s flexible premiums, its adjustable coverage, and how different death benefit options relate to the policy’s amount at risk. 

Upon completion of this course, students will be able to:

• describe how variable life insurance developed and its defining characteristics, such as fixed minimum death benefits and fixed premiums
• know the factors that contributed to the development of VUL and describes characteristics of VUL that differentiate it from other forms of life insurance
• review a checklist for clients interested in VUL to note their suitability characteristics