Who Should Get Variable Life Insurance?

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   Jim Winkler

   CEO/Owner, Winkler Financial Group, Houston, Texas

   That is a great question! Variable life insurance policies are a very different type of life insurance , and are definitely not for everyone. In a term or whole life policy, the cost of the insurance is built in to the premium price, and so the only way they would end prematurely is if you stopped making payments. In variable life policies, the cost of the insurance is paid, or not paid, by the performance of the stock market. Instead of the safety of a steady , known payment, a variable policy is tied to the stock market, and as it varies, so does the policy's value, length of coverage, and your premium payment amount. This type of policy is best suited for someone with a high risk tolerance, who can afford to make larger payments if needed, and who is willing to monitor closely the policy's value. I hope that helps, thanks for asking!

   Answered on July 7, 2014

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