Site loading image

Variable Life Insurance

Looking to protect your family financially while also building savings? Variable life insurance lets you put extra cash into investments, so it can potentially grow faster over time.

What Is Variable Life Insurance?

Variable life insurance is a type of permanent life insurance. Unlike term life, which covers you for a set number of years, permanent insurance protects you for your whole life, as long as you pay your premiums. Once you pass away, your beneficiaries receive a cash payout called a death benefit.

Like all permanent life insurance products, variable insurance also allows you to build cash value over time in your policy. You can borrow cash when you need it, use it as collateral for a loan, or even put it toward your premiums in some cases.

With a variable life policy, your cash value grows based on the performance of the stock market and other market factors. While it’s not guaranteed to increase at a certain rate like other permanent life policies, you can potentially earn more if the market performs well.

How Does Variable Life Insurance Work?

As with any life insurance policy, you make monthly or annual payments called premiums to keep it active. Each time you make a payment on your variable life plan, part of it goes toward a cash value account that’s invested in a variety of sub-accounts, similar to a mutual fund. The value of your cash account will vary depending on the market, but it generally fluctuates within a set range.

If you’re considering a variable life policy, one thing to keep in mind is that your cash value is part of your policy’s death benefit. That means you’ll need to replace any funds you take out to receive your full payout. Also, if you decide to cash out the account completely, your policy will end automatically.

Benefits of Variable Life Insurance

  • Access to Cash Value

    Access to Cash Value

  • Tax-Deferred Savings

    Tax-Deferred Savings

  • Increased Savings Potential

    Increased Savings Potential

  • Lifelong Protection

    Lifelong Protection

Questions about variable lifeinsurance

Variable Life Insurance Quotes Through eFinancial

At eFinancial, we’re committed to helping you find the right life insurance options to meet your needs. You’ll have access to high-quality, affordable insurance products from top-rated insurance companies. Our agents can guide you through the process and support you every step of the way.

To get started, request your free, no-obligation online quote or call 866-388-3996800-957-9525 to talk with one of our agents.