Final answer:
Variable life insurance is the type of life insurance policy whose cash value will fluctuate depending upon the performance of the separate account.
Step-by-step explanation:
The life insurance policy whose cash value will fluctuate depending upon the performance of the separate account is Variable life insurance.
Variable life insurance is a type of permanent life insurance that allows policyholders to invest a portion of their premiums into separate investment accounts, such as stocks, bonds, or mutual funds. The cash value of the policy will rise and fall based on the performance of these investment accounts.