A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder's discretion.

"Variable Life Insurance" In Context

"It should be monitored and adjusted, if needed.” Changing market conditions can have a strong effect on the performance of variable life insurance products, he adds, and fixed products can suffer in a low interest-rate environment, such as the one we are ..."