Which of the following is not a feature of whole life insurance?

Whole life insurance is characterized by several key features that distinguish it from other types of life insurance. One primary feature is fixed premium payments, meaning that the policyholder will pay the same premium throughout the life of the policy, providing stability and predictability in budgeting for this expense.

Another critical characteristic is the guaranteed death benefit, which ensures that the beneficiaries will receive a predetermined sum upon the policyholder's death, regardless of when that occurs, as long as premiums are paid. This feature makes whole life insurance a reliable choice for those seeking to provide financial protection for their loved ones.

Additionally, whole life insurance includes cash value accumulation. This means that a portion of the premium payments goes toward building a cash value within the policy, which grows at a guaranteed rate over time. Policyholders can borrow against this cash value or even withdraw it, making it a form of forced savings and an asset that can be accessed during the policyholder's lifetime.

In contrast, lower premiums is not a feature of whole life insurance. The premiums for whole life policies are generally higher compared to other types of life insurance, such as term life insurance, because these policies are designed to cover the insured for their entire life and include the cash value component. Therefore, while lower premiums might