Variable Life Insurance is a type of permanent life insurance that combines a death benefit with an investment component. Policyholders can allocate their premiums among various investment options, such as stocks and bonds, which can potentially increase the cash value of the policy over time. The death benefit may vary based on the performance of these investments. One key feature of Variable Life Insurance is its flexibility. Policyholders can adjust their premium payments and death benefit amounts, allowing them to tailor the policy to their financial needs. However, the investment risks are borne by the policyholder, meaning the cash value and death benefit can fluctuate.