Define term life insurance.

Term life insurance is designed to provide coverage for a specific period of time, typically ranging from one to thirty years. This type of insurance pays a death benefit to the beneficiaries if the insured passes away during the term of the policy. The primary feature of term life insurance is that it does not accumulate cash value; rather, it offers financial protection for a predetermined duration, which makes it a straightforward and often more affordable option for individuals seeking life insurance coverage.

The focus on a specific coverage period distinguishes term life insurance from other types of life insurance, such as whole or universal life insurance, which cover the insured for their entire lifetime and often include a cash value component. Therefore, the temporary nature of term life insurance aligns with the choice that highlights its specificity in duration rather than lifetime coverage or additional financial elements.