Which type of life insurance policy provides coverage for a specific period, such as 10, 20, or 30 years, and typically pays a death benefit only if the insured dies within that term?

Explanation

Term life insurance is designed to provide coverage for a defined 'term' or period. If the insured person dies within that term, a death benefit is paid to the beneficiaries. Unlike permanent life insurance types, it does not typically build cash value.