| Variable
Life Insurance Policy |
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A
life insurance contract that provides financial compensation to the
insured named beneficiaries in the event of the insured death. The
insurance company guarantees payment of a minimum amount plus an additional
sum according to the performance of a separate account, usually invested
in equities or other relatively high-yielding securities.
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The
insured assumes investment risk but is guaranteed a minimum amount
if the investments do not do well. |
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Dictionary
