The key difference lies in the living benefits. Traditional life insurance pays a death benefit only when you pass away. In contrast, variable universal life insurance offers you both insurance protection and a chance to grow wealth through investments. Aussies in Adelaide, Gold Coast, and Hobart are seeing the appeal of having an insurance product that lets them withdraw funds for life events like education or travel. VUL also allows premium flexibility, which is especially helpful in managing life’s ups and downs. It’s an insurance solution that evolves with you.