Which of the following is NOT a benefit of a life insurance policy?

The choice indicating that guaranteed income during retirement is not a benefit of a life insurance policy is correct. Life insurance policies typically provide a death benefit to beneficiaries upon the policyholder's death, which serves as financial protection for loved ones. Additionally, certain types of life insurance, such as whole life or universal life, have the potential to accumulate cash value over time, which the policyholder can borrow against or withdraw for various needs. Furthermore, life insurance offers tax advantages, as the death benefit is generally not subject to income tax, and there can be tax-deferred growth of the cash value.

In contrast, while some life insurance products can supplement retirement income through cash value, they are not primarily designed to provide guaranteed income during retirement in the same way that dedicated retirement products, like annuities or pension plans, do. Therefore, this characteristic is not typically classified as a primary benefit of standard life insurance policies.