Which of the following is not considered a standard type of life insurance policy?

Liability insurance is not classified as a standard type of life insurance policy. It serves a different purpose by providing coverage for legal liabilities, such as injury or damage to another person or their property, rather than offering a death benefit to a policyholder's beneficiaries upon their death.

In contrast, whole life insurance, term life insurance, and universal life insurance are all types of life insurance designed specifically to provide financial protection and benefits to individuals' beneficiaries. Whole life insurance offers a policy for the insured's entire lifetime with fixed premiums and a cash value component. Term life insurance provides coverage for a specified period, offering a death benefit if the insured passes away during that term. Universal life insurance is a flexible policy that combines life coverage with an investment savings element, allowing policyholders to alter premiums and death benefits.

Understanding these distinctions helps clarify why liability insurance does not belong in the same category as the other types of insurance mentioned, which directly relate to life insurance products.