Under a Regular Premium Variable Whole Life insurance plan, which of the following statements is correct?

The correct choice emphasizes that life protection is the primary objective of a Regular Premium Variable Whole Life insurance plan, while investment features serve a secondary purpose. This type of insurance product is designed to provide a death benefit, ensuring financial security for beneficiaries, which is the primary draw for policyholders seeking life insurance.

While these plans do have investment components that allow for cash value accumulation, they do not overshadow the main life protection feature. Policyholders often seek these products with the understanding that the fundamental goal is to provide financial support in the event of death, with any growth from investments being a supplementary benefit.

The other options differ from this focus on life protection:

• Top-ups and premium holidays could be offered in variations of life policies, so the first option isn't accurate and doesn't capture the flexibility often present in these plans.

• The assertion that the main objective is investment with minimal life protection misrepresents the core intent of these policies, where life insurance remains the primary concern.

• While withdrawals can be subject to certain terms and conditions, the statement about them being prohibited in the initial years doesn't reflect the typical features of such policies, which tend to allow partial withdrawals or loans against the cash value after a specific period.

Understanding the primary focus on life protection