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Variable life insurance usually isn't a good investment vehicle - although it is hard to generalize, the returns are usually mediocre and the expense ratio is usually high (which partly accounts for the mediocre return).

For most people, it's best to separate insurance from savings/investments. If you need life insurance to provide for your children, look at term insurance, the cheapest form. It builds up no cash value and has no investment significance. Just make sure that it's renewable for at least as long as your family situation would make it necessary.

Then put the difference into savings and investments of your own choice.
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