Can variable universal life insurance be converted into a fixed account?
Variable universal life insurance is not an account. It is a
policy that invests in separate accounts in an attempt to earn
higher returns than a fixed policy. A variable universal life
insurance policy can be converted into a different type of life
insurance policy but not a different kind of account.
Related Q&A：
What are the Characteristics of Universal life insurance？Well, let me tell ya. Universal life insurance has a few distinct characteristics. First off, it offers flexibility. You can adjust your premiums and death benefits to fit your changing circumstances. Oh, and it has a cash value component that can grow over time. Another thing is that it often provides more investment options compared to some other types of life insurance. And you know what? The policyholders have some say in how the cash value is invested. That's pretty neat, huh?
