Which type of life insurance often has lower initial premiums but does not provide a death benefit if the term expires without an insured event?

Term life insurance is characterized by having lower initial premiums compared to other types of life insurance products. This is due to its straightforward structure, which typically provides coverage for a specific period, known as the "term." If the insured individual passes away during this term, the policy pays out a death benefit. However, if the individual survives the term, the policy expires without any payout; thus, there is no death benefit provided. This feature of not having a payout at the end of the term—when no claim is made—distinguishes term life insurance from whole life, universal life, and variable life insurance, all of which either accumulate cash value or provide permanent coverage options.