What is "whole life insurance" characterized by?

Whole life insurance is characterized by providing coverage for the entire lifetime of the insured, as long as the premiums are paid. This type of policy also includes a cash savings component, which accumulates value over time and can be accessed by the policyholder during their lifetime. The cash value grows at a guaranteed rate and can be borrowed against or cashed out if needed, adding an aspect of savings to the generally protective nature of life insurance.

The options that describe limited coverage or are focused on specific incidents do not fit the characteristics of whole life insurance, which is designed to offer ongoing protection and build cash value over the insured's lifespan.