Final answer:
VUL policies are issued with a minimum scheduled premium based on the policy's cash value accumulation, which covers the cost of death protection.
Step-by-step explanation:
VUL policies are issued with a minimum scheduled premium based on the policy's cash value accumulation. This minimum amount covers the cost of death protection. The cash value of a VUL policy accumulates over time based on investment income earned on reserves, administrative costs, and other factors. The policyholder's premium payments should be sufficient to cover the claims, company costs, and allow for profits.