Which of the following is a key feature of permanent life insurance?

The key feature of permanent life insurance is lifetime coverage along with cash value accumulation. This type of insurance is designed to provide coverage for the policyholder's entire life, as long as premiums are paid, which distinguishes it from term insurance that only covers a specific period. In addition to providing lifelong protection, permanent life insurance also accumulates cash value over time, which can be borrowed against or withdrawn, offering additional financial flexibility to the policyholder.

This dual function of providing both death benefit protection and a savings component contributes significantly to the overall value of permanent life insurance, making option B the correct answer.