Which of the following is a feature of term life insurance?

Term life insurance is specifically designed to provide coverage for a predetermined period, such as 10, 20, or 30 years. This type of insurance pays a death benefit to beneficiaries if the insured passes away during that set term. Once the term expires, the coverage ends, and there is typically no payout unless the insured has passed away during that timeframe.

This feature distinguishes term life insurance from other types of life insurance, such as whole life or universal life, which often include a cash value component and provide lifetime coverage as long as premiums are paid. The focus of term life insurance is to offer affordable protection for a specified duration, making it an ideal choice for individuals who only need coverage for a certain stage in their life, such as when they have dependents or a mortgage.

In contrast, the options related to accumulating cash value or offering lifetime coverage do not apply to term life insurance, as it does not build savings and is not designed to cover an individual for their entire life. The notion that it cannot be canceled by the insurer is also not accurate, as insurers can cancel policies under certain circumstances, such as non-payment of premiums.