A parent is considering purchasing a life insurance policy for their minor child. They are interested in a policy that offers an automatic increase in the face amount when the child reaches adulthood without an increase in premium. Which policy option should the parent choose?

Term life insurance provides coverage for a specific period and does not include features such as automatic increases in face value at the end of the term. Once the term expires, the policy may not provide any benefits, and there is no flexibility for adjusting coverage as the child matures.

Whole life insurance offers permanent coverage and builds cash value over time. However, it does not automatically increase the face amount when the insured reaches adulthood. Premiums remain level, and any increase in coverage would require additional payments or a new policy.

Universal life insurance provides flexible premiums and adjustable death benefits, but it does not inherently include an automatic increase in face amount upon reaching adulthood. The coverage can be adjusted, but it typically requires active management and additional costs, making it less ideal for the parent's specific request.