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Nothing is the difference. Universal Life can be fixed or variable. Variable simply means that the cash value is invested in stocks or mutual funds to create a fast (sometimes slower) cash value. With a fixed Universal Life product, the cash value can be linked to an interest rate or an Index.
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What is the primary difference between universal life and variable universal life?
The primary difference is how the cash value is invested. Variable universal life means it is invested in stocks and mutual funds and a "fixed" universal life is usually dependent on interest rates. Both carry high risk, but a fixed universal life policy gives you a guarantee that it will not go below a certain interest rate, while variable universal policies usually do not.
The difference between fixed and variable inputs?
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A term life insurance policy is a basic protection that covers expenses in case of an accidental death, it will sometimes cover debilitating injuries, but only briefly. A universal insurance policy covers a wider category and can sometimes be cashed in.
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