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Some policies are designed to offer more control over how the cash value is invested, including variable universal life (VUL) and indexed universal life (IUL).
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VUL policies allow you to invest your cash value in sub-accounts that work much like mutual funds.
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However, these are generally more complex and carry some additional risk.
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IUL policies allow you to direct the growth of your cash value based on the performance of an underlying stock index.
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