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:
“There is not so variable a thing in nature as a lady’s head-dress.”
—Joseph Addison (1672–1719)
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)
“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)