Variable Death Benefit

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Variable Death Benefit

A benefit in some life insurance policies where the designated beneficiary is guaranteed a minimum death benefit and an additional benefit, depending on the performance of some investment portfolio. This allows the beneficiary the possibility of a much larger death benefit that she/he would otherwise receive. However, the minimum benefit can be smaller than normal death benefits paid in other life insurance policies. See also: Variable life insurance.
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VUL offers a number of benefits, including premium flexibility, fixed and variable death benefits, the ability to purchase a guarantee against policy lapse (the guarantee is effective assuming there are no loans or withdrawals), tax-deferred treatment of earnings on cash value, the ability to access cash values via loans and withdrawals and Prudential's investment management experience.