This question relates to Life Insurance. It is important tot note that the type of policy that combines the flexibility of a Universal Life Policy with that of Investment options is the "Variable Universal Life Insurance Policy".
What is a life insurance?
This is simply a contract between a person and an insurance company that says that in the event of  predetermined set of occurrences, that lead to loss of life, the company will pay the insured a certain amount.
There are various types of life insurance policies. Some are traditional and others are investment driven.
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