Insurance Glossary

Industry jargon and unfamiliar terminology can be confusing.

No insurance resource would be complete without a helpful menu of terms and concepts. This information-rich list will help you make sense of the solutions you are considering.

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Variable Life Insurance

Securities-based whole life policies for which the policy owner chooses how cash values will be invested. Each variable life policy has a set number of separate accounts. Typically, there are accounts (similar to mutual funds) that are equity based, bond fund, money market fund, possibly an indexed fund, and usually a general account (fixed interest rate). The policy owner may take withdrawals and loans or cash in the policy for its current cash value.

*Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC. LLIS is Independent of ProEquities, Inc.