Variable Universal Life (VUL) insurance is a flexible life insurance policy that also allows you to grow your money through investments. Unlike traditional life insurance that only pays out after death, a VUL life insurance policy gives you access to a cash value component that grows over time. In cities like Sydney, Melbourne, and Brisbane, more Australians are using this as a long-term wealth-building tool. You pay regular or flexible premiums, a portion of which goes toward life coverage while the rest is invested. As your investments grow, so does your cash value-providing living benefits and financial flexibility.