Which of the following statements are TRUE?

The statement indicating that the life company must maintain a separate account for Variable Life policies distinct from the general account is accurate. Variable Life Insurance (VLI) policies contain elements that allow policyholders to direct their premiums into various investment options, such as stocks or bonds. Unlike traditional life insurance policies, which invest solely in the insurer's general account, the separate account for Variable Life policies helps ensure that the investment performance of the underlying assets directly influences the cash value and death benefit of the policy. This structure helps to keep the policyholder's investment results separate from the insurer's other assets and liabilities, thus managing risk and ensuring clearer transparency regarding performance.