The policy fee payable by a Variable Life insurance policy covers which of the following?

The policy fee in a Variable Life insurance policy is designed to cover the administrative expenses associated with maintaining the policy. This typically includes costs incurred for activities such as record-keeping, processing premium payments, and processing claims. By incorporating this fee, the insurance company can ensure that it has sufficient resources to effectively manage the policy over its duration.

The other options, while related to aspects of the policy, do not accurately reflect what the policy fee specifically covers. For instance, handling charges by investment professionals and mortality costs are separate components that may be included in other fees or costs within the overall structure of the policy. Additionally, fees related to the purchase of units or investments are typically categorized as separate investment charges rather than administrative costs. Therefore, identifying the policy fee as covering administrative expenses provides clarity on its purpose within a Variable Life insurance policy.