Final answer:
The Dividend scale is not guaranteed in a whole life policy as it fluctuates based on the insurer's performance (C). Other aspects like death benefit, cash value, nonforfeiture, and policy loan values are typically guaranteed.
Step-by-step explanation:
The option that is NOT guaranteed in a whole life policy is C. Dividend scale. Whole life insurance policies do include certain guarantees, such as a death benefit and a cash value component. The policyholder has a right to nonforfeiture options, which protect the cash value accumulated in the event that the policy is surrendered or lapsed. Settlement options dictate how the death benefit is paid out to beneficiaries.
Policy loan values are guaranteed to some extent, meaning policyholders can borrow against the cash value of the policy. However, dividends are not guaranteed and they depend on the insurer's performance, which means the dividend scale can vary from year to year and is not a guaranteed feature of a whole life policy.