Which aspect of Variable Life Insurance provides the policyholder with control over their investment strategy?

The correct choice highlights that the available investment options empower the policyholder to take an active role in managing their investment strategy within a Variable Life Insurance policy. Unlike traditional life insurance, which typically has a guaranteed payout that does not vary with market conditions, Variable Life Insurance allows policyholders to allocate their premium payments among various investment options such as stocks, bonds, or mutual funds. This flexibility means that the policyholder can adjust their investment choices based on their risk tolerance, financial goals, and market performance, ultimately influencing both the cash value and the death benefit of the policy.

This control over investment options is a defining feature of Variable Life Insurance, as it directly impacts the potential growth of the policy's cash value and provides an opportunity for policyholders to adapt their investments in response to changing economic conditions.