---
title: "What Is Variable Life Insurance? Definition | Epic Life Glossary"
description: "Variable life insurance is permanent coverage whose cash value is invested in subaccounts chosen by the policy owner. The cash value and sometimes the..."
url: https://epicline.preview.multisites.ai/glossary/variable-life-insurance
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Policy types and products

# Variable Life Insurance

Variable life insurance is permanent coverage whose cash value is invested in subaccounts chosen by the policy owner. The cash value and sometimes the death benefit rise or fall with the performance of those investments.

## Why it matters

Because the owner bears investment risk, variable life is a securities product as well as insurance. It is sold with a prospectus, and agents need a securities license to sell it. The cash value can lose money, and fees can be significant. Buyers should read the prospectus and compare fees. Variable life suits people who want market exposure inside a life policy and accept the risk. It is a poor fit for families who need guaranteed coverage at a low cost.

Source: [investor.gov](https://www.investor.gov/introduction-investing/investing-basics/glossary/variable-life-insurance)

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