What is term life insurance often described as?

Term life insurance is often described as "pure protection" because it provides a straightforward death benefit to beneficiaries if the insured individual passes away during the policy term. This type of insurance does not accumulate cash value like some permanent life insurance policies, which makes it distinctly a plan focused on providing financial security rather than serving as an investment. The primary purpose of term life insurance is to offer a safety net for the policyholder’s loved ones, ensuring that they are financially protected in the event of an unforeseen death. This characteristic emphasizes the term life insurance's role as a protective measure rather than as a long-term asset or part of an investment strategy.

While options like retirement plans or investment strategies involve the growth of funds and long-term financial planning, term life insurance remains concentrated on providing immediate financial support without the complexities of investment returns or cash accumulation.