Variable life insurance policies have

While variable life insurance policies may have cash value components, these values are not guaranteed. The cash value fluctuates based on the performance of the underlying investment accounts chosen by the policyholder. Therefore, there are no guaranteed cash values associated with variable life insurance policies.

Flexible premiums are more commonly associated with universal life insurance policies, where policyholders have the flexibility to adjust their premium payments within certain limits. Variable life insurance policies, on the other hand, typically have fixed level premiums that do not change over time.

Variable life insurance policies do not guarantee minimum rates of return on the cash value portion of the policy. The return on investment is tied to the performance of the selected investment accounts, which can vary and may not always result in a positive return.