Variable Insurance and Variable Annuity Contracts
Variable universal life insurance policies and variable annuity contracts often are structured somewhat similar to mutual funds, and they may vary in value as securities and markets fluctuate. Typically, these insurance or annuity products issue 'units' of ownership to policyholders/annuitants in exchange for their investment—similar to shares of a mutual fund. Also similar to a fund, the assets, liabilities and net assets of these product entities are valued periodically resulting in an asset unit value or AUV or UAV per share - analogous to NAV for a fund.
Read more about this topic: Net Asset Value
Famous quotes containing the words variable, insurance and/or contracts:
“Walked forth to ease my pain
Along the shore of silver streaming Thames,
Whose rutty bank, the which his river hems,
Was painted all with variable flowers,”
—Edmund Spenser (1552?–1599)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)
“If love closes, the self contracts and hardens: the mind having nothing else to occupy its attention and give it that change and renewal it requires, busies itself more and more with self-feeling, which takes on narrow and disgusting forms, like avarice, arrogance and fatuity.”
—Charles Horton Cooley (1864–1929)