What is Variable Life Insurance?

A variable life insurance policy is a permenent policy with distinct accounts for insurance vs. the cash value. There may be a variety of  investment choices, like  mutual, equity, or money market funds. The owner has the flexibility to choose how to allocate the cash value in these markets. When the cash value grows, because of dividends, interest, or market growth, the death benefit and value of the cash account can also grow!

What Are Senior Variable Life Insurance Rates? 

Since variable life, like other insurance, has rates and policies that are set at the local level, it is important to find good brokers and accurate quotes for your city or town. Find senior citizen variable life insurance agencies and rates here for free!

Pros and Cons of Variable Life Insurance

• The policy owner can participate in how well the cash account performs by moving investments between the fund options.
• When the funds do well, the death benefit can increase. Money in the cash account can also cover some of the premiums.
• Many life insurance events are not taxable. The fund can grow, beneficiaries can receive a death benefit, and the policy may eve be borrowed against without generating a new tax bill.
• There is risk.There may be periods when investments do not do well. The death benefit could be reduced and cash accounts could get depleted. Polices may have a minimum guaranteed threshold to minimize this risk.
• Since these are permanent policies, they may be used in senior life settlement transactions.

If you are interested in finding out more about variable life insurance policies for seniors, you can use our fast and free quote form to compare senior variable life rates and find local agents.  Insurers usually vary rates and policies by state, county, or zip code. That is why it is important to find a good insurance agent in your local area.