Straight whole life insurance can be accurately described in all of these statements EXCEPT:

Straight whole life insurance is designed to provide lifelong coverage for the insured, meaning the policy protection generally lasts for the entire life of the policyholder, which aligns with the first statement. Premiums for whole life insurance are typically structured to remain level throughout the policy’s duration, making the second statement accurate as well. Additionally, one of the key features of straight whole life insurance is the accumulation of cash value over time, which is reflected in the third statement.

The assertion that policy protection normally expires at age 65 is not consistent with the essence of straight whole life insurance. Unlike term life insurance, which may have specific expiration ages or terms, whole life insurance is intended to remain in force for the entire lifetime of the insured, as long as premiums are paid. Thus, the statement regarding expiration at age 65 does not aptly describe straight whole life insurance.