What is a variable life insurance policy?

For many people, the main goal of life insurance is to provide a death benefit to their beneficiaries. But life insurance can be used for other purposes as well.

In fact, life insurance can serve as an investment, with a cash value that can be accessed even while the policyholder is still alive.

Variable life insurance policies provide this type of investment vehicle, and policyholders can invest in a combination of stocks, bonds and other investments. This can allow the investment to grow over time and provide an excellent cash benefit down the road.