Why Buy Variable Life Insurance?

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   Jim Winkler

   CEO/Owner, Winkler Financial Group, Houston, Texas

   That is a great question! Of the three types of life insurance, term, whole life, and universal (or variable) variable is the most complicated. The things that make it different also make it riskier. This is not the policy for you, if you do not like risk, or do not want to have to keep track of its performance. This policy is called "variable" because your payments can vary. This can be a problem, if you send in a steady payment amount, and the policy expenses are more than the payment you are sending. Your policy will eventually eat itself alive, and collapse. If you are someone who likes risk, and will pay close attention to your policy's performance, the policy can be a valuable part of your financial plan. This type of policy can ( I repeat Can) generate large cash values, if the needed variables all fall into place. Talk to your agent or advisor, and see if this policy is what works best for you. Thanks for asking!

   Answered on July 23, 2014

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