What is the most basic type of permanent insurance policy called?

The most basic type of permanent insurance policy is called Whole Life insurance. Whole Life insurance provides coverage for the insured's entire lifetime, as long as premiums are paid. It has fixed premiums, a guaranteed death benefit, and also includes a cash value component that grows over time. This cash value can be borrowed against or withdrawn, providing additional benefits to the policyholder.

Universal Life insurance, while also a type of permanent insurance, offers more flexibility in terms of premium payments and death benefit options. It allows policyholders to adjust their premiums and death benefits, which adds complexity not present in Whole Life policies.

Term-100, while permanent in the sense that it provides coverage up to age 100, is not the traditional definition of a whole life policy. It does not build cash value and is primarily designed to provide a death benefit without the accumulation features of whole life.

Term insurance, on the other hand, is not a permanent form of insurance and only provides coverage for a specified period, typically 10, 20, or 30 years, without any cash value accumulation.

Therefore, among the options provided, Whole Life is the most fundamental type of permanent insurance.