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Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

Variable Life

Acronyms &
Notes:An insurance policy.
Tags: insurance, life insurance

Definition of variable life (VL)

variable life (VL)
1. A life insurance policy that allows the policyholder to allocate a portion of his or her insurance premiums into an account within the insurance company's investment portfolio which is comprised of a variety of financial instruments such as stocks, bonds, and equity funds. Due to investment risks the beneficiaries will receive a variable death benefit.

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