Which of the following may NOT be deducted from premium payments or the cash value of a variable life insurance policy?

In the context of variable life insurance policies, there are specific elements that can or cannot be deducted from premium payments or the cash value. Federal premium taxes are not deductible from either the premium payments or the cash value of a variable life insurance policy. This aligns with the regulations governing how these taxes are treated in relation to insurance products.

On the other hand, state premium taxes, administrative fees, and mortality charges are generally considered allowable deductions from the premiums or cash value. State premium taxes are often imposed on the premium amounts and may be deducted as a cost of insurance. Administrative fees are charges related to managing the policy, while mortality charges are costs associated with the risk of the insured’s death. These deductions are typically accounted for when establishing the net cash value or calculating the total cost of the policy, unlike federal premium taxes, which do not receive the same treatment.