Variable Universal Life Insurance is a type of life insurance, that builds a cash value. The cash value can be invested in a wide variety of separate accounts, like mutual funds, and the choice of how to use the accounts is entirely up to you, the owner.

Variable universal life is also considered to be a type of permanent life insurance, because the death benefit will be paid if the insured dies any time up until the endowment age (typically 100), as long as cash value of pay the costs of insurance in the policy.

Variable universal life insurance receives special tax advantages in the United States IRS code. The cash value in life insurance is able to earn investment returns without incurring current income tax as long as it meets the definition of life insurance and the policy remains in force.

This Insurance is relatively for wealth people who give money to their children.