Which of the following is usually considered a benefit of life insurance?

Life insurance is primarily designed to provide financial support to beneficiaries upon the policyholder's death. The immediate payment of benefits upon death is a fundamental aspect of life insurance because it ensures that loved ones are financially protected without delay. This benefit provides peace of mind, allowing policyholders to know that their family or dependents will receive a sum of money to help with expenses such as funeral costs, living expenses, and settling debts.

While other options might appear to have their own advantages, they do not typically align with the main features of life insurance. For instance, premium refunds upon cancellation are not standard in most policies; tax deductions for premiums paid is usually not applicable, as personal life insurance premiums are generally not tax-deductible; and guaranteed insurance premiums can exist, but they are specific to certain types of policies rather than a universal benefit of life insurance. Overall, the direct benefit that life insurance provides, which is the immediate financial support upon the policyholder's death, is what makes that option the most aligned with the primary purpose of life insurance.