Which of the following is a key feature of whole life insurance?

Whole life insurance is characterized by its fixed premiums and guaranteed death benefit, which distinguishes it from other types of life insurance. The fixed premiums mean that the policyholder pays the same amount throughout the life of the policy, making it easier to budget for. This stability is one of the primary attractions for individuals seeking long-term coverage.

Additionally, the guaranteed death benefit ensures that beneficiaries will receive a predetermined amount upon the policyholder's death, providing peace of mind. This feature is crucial for those looking to provide financial protection for their loved ones. Unlike term life insurance, which provides coverage for a specific period, whole life insurance will remain in force for the lifetime of the policyholder as long as premiums are paid.

The other choices either misrepresent the characteristics of whole life insurance or describe features not applicable to this type of policy. For example, adjustable premiums and market rates are more aligned with universal life insurance, while having coverage limited to a specific term and restrictions based on the age of the policyholder do not pertain to whole life insurance.