What is the defining characteristic of term life insurance?

Term life insurance provides pure death benefit protection for a specified period — commonly 10, 20, or 30 years — and pays nothing if the insured survives the term. It has no cash value, no savings component, and no investment feature. Premiums are typically much lower than permanent insurance because the insurer only pays if death occurs during the term. Common term types: level term (death benefit and premium stay constant), decreasing term (death benefit drops over time, often used for mortgage protection), and annual renewable term (premium increases each year as age rises). Term is most suitable when a temporary need exists — children to raise, mortgage to pay off — and the insured does not need lifelong coverage.