Which of the following statements are TRUE about Variable Life insurance?

The statement that policies provide clear structures for premiums and protections is accurate in the context of Variable Life insurance. Variable Life insurance is designed to offer both a death benefit and a cash value component that can fluctuate based on the performance of the underlying investments chosen by the policyholder. The structure typically outlines how premiums are allocated towards insurance coverage and the investment components, providing a transparent view of how the policy operates.

While the premiums can vary in amount—for example, policyholders may have the opportunity to adjust premium payments within certain limits—this structure ensures that policyholders understand their financial commitment and the protections afforded by the policy. The clarity regarding the potential for fluctuations in cash value due to market performance also reinforces the importance of understanding the built-in risks and benefits.

This contrasts with other statements, such as suggesting the policies are strictly for insurance without investment, or that premiums are always fixed, indicating a lack of flexibility typical of Variable Life insurance products. Therefore, the clear structure referenced in the true statement reflects the essence of Variable Life insurance, where the interplay between insurance and investment is fundamental to the policy's design.