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Universal (80s) vs variable life insurance (90s)

Why was universal life insurance popular in the 1980s? What made variable life insurance popular in the 1990s?

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Universal life insurance was a flexible species of "whole life", which includes two separate financial services: life ...

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This posting explains the the difference between universal life insurance and variable life insurance and also why the two were popular in the 80s and the 90s respectively, in a short answer.