變額萬用壽險亦稱靈活保費變額壽險或萬用變額壽險，結合萬用壽險的保費及死亡保險金彈性、定價因素分列與變額壽險的投資特性。
Variable universal life, also called flexible premium variable life or universal variable life, combines universal life's premium and death benefit flexibility and separately identified pricing factors with variable life's investment characteristics.