Which policy is likely to have a fixed premium for the duration of its coverage?

Whole life insurance is designed to provide coverage for the insured's entire lifetime as long as the premiums are paid. One of the key features of whole life insurance is that it has a fixed premium. This means that the premium amount does not change over time, providing policyholders with predictability and consistency in their budgeting.

In addition, whole life insurance policies accumulate cash value, which grows at a guaranteed rate, further stabilizing the financial aspect of the policy. This fixed premium is advantageous for individuals seeking long-term life insurance coverage without the concern of premium increases that can occur with other types of policies.

Other policies, such as term life insurance, adjustable life insurance, and universal life insurance, have features that allow for variations in premiums. Term life insurance typically has fixed premiums for the duration of the term, but once that term expires, the premium can increase significantly if the policyholder wishes to renew. Adjustable and universal life insurance policies offer more flexibility in premium payments but do not guarantee fixed premiums throughout the life of the policy.