Term life insurance is what people call "pure insurance." It is pure life insurance protection with no investment feature in the policy. It provides life insurance, and there is no build up of cash value inside the policy.

You pay a premium for a specific period of time, usually 10 to 30 years, and the insurance company will pay a death benefit to your beneficiary if you pass away in that time period.

You designate an amount of life insurance with the insurance company and the...