Final answer:
The incorrect characteristic of Whole Life insurance is that it is not considered a property. Whole Life insurance is known for its level lifetime premium, level lifetime death benefit, and cash value equaling the face amount at age 100. The correct answer is D. Is not considered a property.
Step-by-step explanation:
The characteristic of Whole Life insurance that is not accurate in the list provided is D. Whole Life insurance is not considered a property. Whole Life policies have several key characteristics: A) They have a level lifetime premium, meaning the premium amount does not change throughout the life of the policy.
B) The policies typically feature a level lifetime death benefit, which is the amount that will be paid out upon the death of the insured. C) There is a cash value component that equals the face amount of the policy at age 100, which is an accumulated amount that can serve as an account for the policyholder's use. Therefore, the correct answer is D. Is not considered a property.