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variable life insurance

American  

noun

  1. an insurance policy whose annuity payments or payment to the beneficiary are not fixed but depend on the income earned by the investment of the premiums.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.