Variable Life Insurance

One of several types of life insurance policies that provide both life insurance protection and a savings component. The return on the savings portion of a variable life policy will generally vary, as it depends on the performance of the … Continued

Variable Universal Life Insurance

A form of permanent cash value life insurance that combines features of both variable life and universal life. As with universal life, you have flexibility with both premium payments and death benefit coverage. As with variable life, the rate of … Continued

Vesting

The right an employee gradually acquires by length of service at a company to receive employer-sponsored benefits, such as profit-sharing or a pension. After the vesting period elapses, entitlement to those benefits remains even if employment is subsequently terminated with … Continued

Vested Interest

From a legal standpoint, a vested interest is an interest in something that is certain to occur as opposed to being contingent on an event that might not happen. Thus, a vested interest refers to a present fixed right of … Continued

Vesting Schedule

The schedule according to which an employee of a company acquires the right to receive employer-sponsored benefits, such as payments from a pension fund, profit-sharing plan, or other qualified plan or trust, based on length of service with the company.

Vision Care Insurance

Insurance that provides coverage for expenses relating to routine eye care (e.g., eye examinations, glasses, contact lenses).