What are flexibility features of Variable Life insurance policies?

The flexibility features of Variable Life insurance policies primarily revolve around the ability to adjust coverage and contribute differently over time. The option regarding the ability to vary the sum assured is particularly significant, as it allows policyholders to adapt their life insurance coverage according to their changing needs and financial situations. This could mean increasing or decreasing the death benefit over the life of the policy, in alignment with factors such as personal circumstances, dependents, or financial goals.

By having the option to vary the sum assured, policyholders can ensure they maintain adequate protection or adjust their benefits in response to changes in their life circumstances, such as marriage, having children, or changes in income. This adaptability is one of the hallmark features that sets Variable Life insurance apart from more traditional life policies that might have fixed benefits.

In contrast, other choices do not accurately reflect the flexibility inherent in Variable Life insurance. For example, guaranteed fixed withdrawal values are not a feature typically associated with Variable Life policies, as withdrawals can impact the cash value and death benefit depending on the investment performance. Loan capabilities in these policies may also come with conditions that ensure the policy remains in force. Meanwhile, fixed withdrawal amounts limit the policyholder's ability to make withdrawals based on their specific needs or market conditions, thus