Which of these is NOT an advantage of term life insurance?

Term life insurance is specifically designed to provide coverage for a specified period, and it does not accumulate cash value. This means that if the insured outlives the policy term, there is no cash benefit provided at the end of the policy period. This characteristic distinguishes term life insurance from whole life or universal life insurance, which do offer a cash value component that can be accessed while the policyholder is alive or paid out upon policy surrender.

The other options reflect valid advantages of term life insurance. The product is often lauded for offering the most coverage for the lowest initial premium, making it an economical choice for individuals seeking high coverage amounts. Additionally, term life insurance can be added as a rider to other permanent insurance products, providing a flexible solution to meet varying coverage needs. Finally, term life insurance effectively meets temporary insurance needs, as it is generally designed to cover specific financial responsibilities, such as raising children, paying off loans, or covering income loss for a defined period.

Understanding these features emphasizes why term life insurance is a popular choice for many individuals looking for straightforward, affordable coverage solutions without the complexities of cash value accumulation.