Which of the following best describes a fixed insurance policy?

A fixed insurance policy is characterized by its provision of a guaranteed fixed death benefit along with a minimum return on the cash value. This means that the insured party can expect a certain amount of coverage that will not fluctuate with market conditions, providing a sense of security and predictability.

This type of policy usually accumulates cash value over time at a guaranteed interest rate, ensuring that policyholders have access to funds if needed while still maintaining a stable death benefit. Such features make fixed insurance policies appealing to those who prefer a conservative approach to life insurance and savings, allowing for financial planning without exposure to the varying performance of investments.

In contrast, the other choices describe characteristics of different types of insurance. Temporary coverage, investment opportunities, and variable death benefits are not features of a fixed insurance policy and are more aligned with term insurance, investment-oriented products, or variable life insurance. These would not provide the same guarantees that a fixed insurance policy offers.