What is a unique feature of a whole of life policy compared to term policies?

A whole of life policy is designed to last for the entire life of the insured, which distinguishes it from term policies that provide coverage for a specified period. This means that as long as premiums are paid, the policy remains in force for the insured's lifetime, and the death benefit will be paid out upon the death of the insured regardless of when that occurs. This characteristic offers long-term financial protection and peace of mind, as beneficiaries are assured a payout, fulfilling the policyholder's intent to provide for their loved ones no matter when they pass away.

In contrast, term policies are limited in duration, allowing coverage only for a defined term, which can be a disadvantage for those seeking lifetime protection. This fundamental difference in the duration of coverage is what makes whole of life policies appealing to individuals looking for a financial safety net throughout their entire lives.