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Answered 2011-07-05 06:07:27

its a type of permanent life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value of the policy. The advantage is that the cash value builds up with a lot of earned interest from the underlying securities in the portfolio, the disadvantage is the high price you have to pay every month for this benefit.

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