Variable universal life provides income tax-free death benefits and the potential to build cash value in your policy. And you control how to build that cash value which can be invested in a wide variety of separate accounts, similar to mutual funds. The variable component refers to the ability to invest in account whose values may vary since they are invested in the stock and bond .Policy loans are available to borrow
SEC recently issues reports on these products and you do want to think about the following before making a decision to purchase a variable.