Term life insurance

{
  "id": "MLC-T-INS-003749",
  "term": "Term life insurance",
  "field": "Insurance and risk management",
  "definition": "A type of life insurance that provides a death benefit to the beneficiary if the insured person dies within a specified period, or term. The policy has no cash value or savings component, making it a pure form of death benefit protection. Common term lengths are 10, 20, or 30 years, after which coverage ceases unless the policy is renewed or converted.",
  "url": "https://mlchart.com/terminology/insurance/term-life-insurance/"
}