The policy feature that makes universal life different from whole life insurance policies is

Whole life insurance typically features a fixed face amount, which remains constant throughout the life of the policy. While universal life insurance can also have a fixed face amount, the defining characteristic that sets it apart is the flexibility in premium payments, not the face amount.

Both universal life and whole life insurance policies generally offer assignment options, allowing policyholders to transfer ownership or benefits to another party. Therefore, this feature does not specifically differentiate universal life from whole life policies, as it is a common attribute shared by both.

Settlement options, which pertain to how benefits are paid out upon the death of the insured, are available in both types of insurance policies. Since both universal life and whole life can offer various settlement options, this choice does not highlight a unique feature of universal life insurance.