I think, you mean, it is ONE way that the bank invests your money/deposits...
*(VUL is a mutual fund-structured investment w/ insurance... It is a product of several insurance companies. Not all insurance companies have this though. The advantage of this over mutual fund is that if you're investing especially for your family, and in case of "early departure from this world", and IN CASE the market is down, your family will be able to get a certain percentage higher than the initial amount invested... Not like MF, if the market is down and you get an early departure, you're family get's whatever the market value of the fund (which could be less than what you initially invested...)