What statement accurately describes Variable Life insurance?

Variable Life insurance is characterized by its flexible premium payments and the potential for variable returns. Policyholders have the option to adjust the amount and frequency of their premium payments within certain limits, allowing them to tailor their contributions based on their financial situation and goals.

Additionally, the investment component of Variable Life insurance allows the policyholder to allocate the cash value among a variety of investment options, such as stocks, bonds, or mutual funds. This means that the returns on the cash value can fluctuate based on the performance of these underlying investments, leading to the potential for variable returns. This flexibility in both premiums and returns is a crucial aspect that differentiates Variable Life insurance from other life insurance products with more rigid structures and guaranteed returns.