Which statement accurately distinguishes variable life products from participating products?

Variable life products indeed allow for premium payment variations, distinguishing them from participating products. This flexibility means policyholders can adjust their premium payments based on their financial situation and investment preferences. In variable life insurance, the policyholder can choose the amount and frequency of premium payments within certain limits set by the insurer. This adaptability is a key feature that aligns with the investment component of variable life insurance, where the cash value can fluctuate based on the performance of selected investment options.

In contrast, participating products typically require fixed premium payments that are consistent over the life of the policy. This lack of flexibility is a defining characteristic of participating products, which generally provide dividends based on the insurer's performance but do not allow for premium adjustments by the policyholder.

Understanding this distinction is crucial for anyone involved in selling or advising on life insurance products, as it affects how policies are structured and how they may fit into a client's broader financial strategy.