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Definitions for: variable premium life insurance
variable premium life insurance

policy that allows premium payments to vary, within certain limits, at the option of the policyholder. In return, the death benefit and rate of cash value accumulation vary with the premium payments. universal life insurance is the most common type of policy offering variable premiums.

Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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Industry Associations

Industry Associations
Woodmen of the World/Omaha Woodmen Life Insurance Society
Offers insurance protection with member benefits. Product portfolio includes whole life, flexible premium life and term life insurance, cancer insurance, hospital supplement insurance, long term care insurance and annuities. Mutual ...

Members: 800,000
Founded: 1890