Universal life and variable life insurance policies contain many similar features. Which of the following features is unique to variable universal life insurance?

While variable universal life insurance does provide flexibility in premium payments, this feature is not unique to VUL. Many life insurance policies, including traditional universal life, also offer similar options, thereby making it a common characteristic rather than a distinguishing feature of VUL.

The ability to contribute large sums of money is a feature found in several types of life insurance policies, including universal life insurance. Therefore, this characteristic does not set variable universal life insurance apart, as other policies also allow substantial contributions under certain conditions.

This option is available in both universal and variable universal life insurance policies. The ability to adjust the death benefit is a common feature designed to provide policyholders with greater control over their coverage, making it non-exclusive to VUL.