The flexibility benefits of investing in Variable Life funds include:

The flexibility benefits of investing in Variable Life funds are best represented by the ability of policy owners to easily switch their investments between different funds. This feature is central to Variable Life insurance policies, as they are designed to give policyholders control over the allocation of their premiums among a variety of investment options, such as stocks, bonds, and mutual funds.

This flexibility allows policyholders to adjust their investment strategies based on changing market conditions or personal financial goals without needing to alter the overall structure of their insurance policy. The ability to shift investments can lead to potentially enhanced returns and better alignment with the policyholder's risk tolerance and investment timeline, making it a significant feature of Variable Life insurance.

In contrast, the other statements do not accurately reflect the nature of Variable Life policies. For instance, changing the sum assured is typically subject to specific limits and requirements, which contradicts the concept of flexibility. Fixed benefits suggest a lack of variability and control, which is contrary to the purpose of a Variable Life policy. Moreover, traditional policies often do not include the kind of flexible investment choices that Variable Life insurance offers.