What do variable life insurance policies NOT typically provide?

Variable life insurance policies are designed to offer policyholders investment options that can fluctuate, allowing for potential growth based on the performance of underlying investments. While these policies provide flexibility in premium payments and professional investment management, they generally do not guarantee a minimum sum assured. The face value of a variable life insurance policy can vary based on the performance of the investments chosen by the policyholder.

A guaranteed minimum sum assured is more characteristic of whole life insurance products rather than variable life insurance. In a variable life policy, the death benefit and cash value can increase or decrease depending on how well the investments perform, which presents both opportunities and risks for the policyholder. Thus, the absence of a guaranteed minimum sum assured is a key feature that distinguishes variable life insurance from other life insurance products.