Which of the following is a feature of a whole life insurance policy?

A feature of a whole life insurance policy is cash value accumulation. Whole life insurance is structured to provide lifelong coverage, meaning it does not expire as long as premiums are paid. This type of policy includes a savings component known as cash value, which grows over time at a guaranteed rate and is accessible to the policyholder through loans or withdrawals. This accumulation of cash value is one of the key benefits of whole life insurance, making it a unique and attractive option for individuals looking for both insurance protection and an investment component.

The other choices refer to characteristics not typically associated with whole life policies. Adjustable premiums are generally found in universal life insurance, which allows for flexible premium payments. Immediate net payout is a feature more common in term life insurance, where the policy pays a benefit only upon the death of the insured during the term. Limited duration of coverage describes policies with a set expiration date, which is characteristic of term life insurance and not applicable to whole life policies that are intended to last for the insured's lifetime.