What is a characteristic of a Straight Whole Life policy?

A Straight Whole Life policy is designed to provide coverage for the insured's entire lifetime, maturing at age 100, or upon the insured's death, whichever comes first. This type of policy guarantees that the death benefit will be paid, ensuring long-term financial security for beneficiaries. The premiums are generally fixed and level throughout the life of the policy, contributing to the policy's cash value over time.

This characteristic of lifelong coverage sets it apart from term insurance, which only covers a specific period and does not build cash value. Additionally, options that suggest no cash value or variable premium payments do not align with the features of Straight Whole Life insurance, which does accumulate cash value and requires fixed premiums. Lastly, aiming for short-term coverage is not in line with the fundamental purpose of Straight Whole Life, which focuses on lasting protection and financial planning across an individual's lifetime.