Which of the following is not a type of whole life policy?

The classification of whole life policies generally includes options that allow for different premium payment structures and benefits while maintaining the characteristics of whole life insurance, such as lifetime coverage and a cash value component.

Limited payment whole life involves paying premiums for a specified limited period of time while still providing coverage for the entire life of the insured. Single premium whole life requires a one-time upfront premium, which allows the policy to remain in force for the insured's lifetime. Whole life assurance typically refers to a traditional whole life policy that guarantees coverage for the lifetime of the policyholder as long as premiums are paid.

In contrast, a variable premium whole life policy is not a recognized or standard form of whole life insurance. Instead, it refers more closely to variable life insurance, which allows for flexible premium payments and provides an investment component where the cash value can fluctuate based on the performance of chosen investments. This distinguishes it from traditional whole life policies where premiums are fixed.

Thus, identifying variable premium whole life as not being a type of whole life policy underlines the concept that whole life insurance has specific characteristics that differ from variable life products.