Which type of policy has fixed premiums and guaranteed death benefits?

Whole Life policies are designed with fixed premiums that remain constant throughout the life of the policy. Additionally, they provide a guaranteed death benefit, which means the beneficiaries are assured to receive a specified amount upon the death of the insured, regardless of when that occurs. This predictability makes Whole Life insurance a popular choice for individuals seeking long-term financial security and peace of mind for their beneficiaries.

In contrast, a Universal Life policy offers flexibility in premiums and death benefits, which can vary over time. Term Life policies provide coverage for a specific period and typically do not accumulate cash value or provide guaranteed benefits beyond the term. Accidental Death policies cover deaths resulting from accidents only and do not guarantee coverage for other causes of death, nor do they typically have fixed premiums similar to Whole Life policies.