Which of the following is NOT typically a benefit of permanent life insurance?

Permanent life insurance is designed to provide lifelong coverage, as long as the policyholder continues to pay the required premiums. One of the primary benefits of this type of insurance is the ability to accumulate cash value over time, which can be accessed during the policyholder's lifetime. Additionally, permanent life insurance guarantees a death benefit to the beneficiaries upon the insured's passing.

The choice related to "coverage for a specified term only" is not a typical feature of permanent life insurance. This characteristic aligns more closely with term life insurance, which provides coverage for a predetermined duration and does not build cash value. In contrast, permanent life insurance differs significantly by offering lifelong coverage and cash value accumulation, making it an essential aspect of financial planning for many individuals.