A primary purpose of Variable Life insurance is to provide:

The primary purpose of Variable Life insurance is indeed to provide life protection with an investment component. This type of insurance combines a death benefit with a cash value that can be invested in a variety of options, such as stocks, bonds, or mutual funds, giving policyholders the potential for growth based on market performance.

The investment component is what differentiates Variable Life insurance from traditional life insurance products that may not offer such investment flexibility. As the policyholder, you have the ability to choose how you want to allocate your cash value, which can lead to variable returns. The life insurance protection continues regardless of the performance of the investments but can be affected by fluctuations in the cash value which, in turn, may impact the total death benefit if not managed correctly.

This combination of life insurance and investment allows individuals not only to secure their beneficiaries' financial future but also to have the potential for wealth accumulation during their lifetime. The other options do not capture the essence of Variable Life insurance; they either focus on fixed returns, short-term investments, or guarantee aspects that are not characteristic of this type of insurance product.