Which of the following statements about Single Premium Variable Life policies are TRUE?

The question revolves around Single Premium Variable Life policies and their characteristics. Among the statements, the one that is true is that top-ups or additional single premium injections are allowed in these plans. This feature enables policyowners to contribute extra amounts to their policy beyond the initial single premium payment, which can enhance the investment component of the policy and potentially increase the cash value.

Single Premium Variable Life policies are unique in that they allow for variable investment options and do not have a set term, which differentiates them from traditional Whole Life insurance. However, the idea that they are technically Whole Life insurance is not accurate, as these policies do not function in the same way and their structures differ significantly.

The flexibility to vary the level of cover differs from variable life products as well, and while policyowners can invest in different funds, the basic cover amount is generally established at the outset and may not be as easily adjustable. Thus, while B is a true statement about the nature of Single Premium Variable Life policies, the other statements do not correctly convey the characteristics of these policies.