Which of the following best describes a whole life policy's death benefit?

A whole life policy's death benefit is designed to remain level throughout the life of the policy. This means that the amount paid out upon the policyholder's death is consistent and predetermined at the time the policy is issued. This characteristic provides financial certainty and peace of mind, as beneficiaries can expect to receive a fixed sum, regardless of when the death occurs, as long as the policy is in force.

In contrast, other options do not apply to whole life policies. For example, a decreasing death benefit is more typical of term life insurance or certain types of adjustable policies, which can reduce coverage over time. The idea that the benefit varies with the stock market applies to variable life policies, where the cash value and potentially the death benefit can fluctuate based on investment performance. Additionally, a death benefit payable only after a specific term describes term life insurance, which provides coverage for a set period and does not build cash value or provide a lifetime benefit. Therefore, the stability of the whole life policy's death benefit is a fundamental aspect that distinguishes it from these other insurance products.