Premiums

• Premiums for variable universal life insurance are flexible. The first premium establishes the policy and subsequent premiums can be paid at any time in any amount within limits set when the policy is purchased. Premiums for term life insurance are level and paid at predetermined intervals.
  
  

Length of Coverage

• A variable universal policy will continue coverage as long as there is enough cash value earned to pay the costs. Term life insurance will continue until the end of the set term as long as the premiums are paid.
  
  

Investment

• Premiums for the variable universal policy can be invested in various portfolios, which offer different risk and growth potential. Term life policies do not offer any cash value or investment opportunities.
  
  

Investment Portfolios

• Variable universal investment portfolios offer the opportunity for growth, tax-deferred earnings and tax-free transfers between portfolios.
  
  

Death Benefit

• The death benefit on a variable universal policy can be paid in the amount of the original face value or the original face value plus the investment account value. The death benefit for a term policy is set at the time of purchase and does not change.