Which type of life insurance provides a death benefit but no cash value accumulation?

Term life insurance is specifically designed to provide a death benefit for a predetermined period, typically ranging from one to thirty years, without accumulating any cash value. This type of policy offers pure insurance protection, meaning that if the insured person passes away during the term, their beneficiaries receive the death benefit. However, if they outlive the term, the coverage expires, and there is no payout or cash value benefit at the end.

This characteristic of term life insurance distinguishes it from other types of life insurance products, such as whole life or universal life insurance, which both include a savings component that accumulates cash value over time. Endowment insurance also typically has a savings element that matures after a certain term or upon death, providing both a death benefit and cash value. Therefore, term life insurance fits the description of providing a death benefit without cash value accumulation.