... the underlying investment. There are two different types of variable life insurance.  Fixed premium variable life is based on whole life. When talking about this product, life insurance practitioners generally drop the “fixed premium” qualifier and refer to the product simply as variable life. It...

... generally drop the “fixed premium” qualifier and refer to the product simply as variable life. It provides a fixed premium payment schedule. Flexible premium variable life is based on universal life (a flexible premium derivative of whole life). This product may also be called “variable universal life” or...

... is based on whole life. When talking about this product, life insurance practitioners generally drop the “fixed premium” qualifier and refer to the product simply as variable life. It provides a fixed premium payment schedule.  Flexible premium variable life is based on universal life (a flexible...