Which of the following is NOT a basic form of Whole Life Insurance?

Variable Whole Life insurance is not considered a basic form of Whole Life Insurance because it incorporates investment components along with the traditional features of life insurance. In Variable Whole Life, the policyholder can allocate a portion of the premium payments to different investment accounts, which can lead to changes in both the cash value and the death benefit based on the performance of the chosen investments. This variability distinguishes it from the basic forms of Whole Life Insurance, which offer guaranteed benefits and do not depend on market performance.

In contrast, the other forms listed—Straight Whole Life, Limited Pay Whole Life, and Single-Premium Whole Life—focus on providing a fixed death benefit and a guaranteed cash value accumulation. Straight Whole Life provides a lifetime coverage with premiums paid for the full term of the policy, Limited Pay Whole Life has payments limited to a certain period, and Single-Premium Whole Life requires a one-time upfront payment for coverage. These forms are characterized by their straightforward structure and the predictability of benefits, which is why they are considered basic forms of Whole Life Insurance.