Term life insurance offers pure insurance with no savings feature.

Question

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Term life insurance is a type of insurance in which an individual pays premiums for a specific period (usually 10-30 years) in exchange for a death benefit payment to their beneficiaries if they pass away during that period. Unlike whole or universal life insurance, term life insurance does not have any savings or investment features. It is meant to provide pure insurance coverage for a specific period of time.

Term Life Insurance Offers Pure Insurance with No Savings Feature