Which feature is commonly associated with Term Life Insurance?

Term life insurance is designed primarily to provide a death benefit to beneficiaries for a specific period, or "term," such as 10, 20, or 30 years. A key characteristic of term life insurance is that it generally does not accumulate cash value over time, which differentiates it from whole life insurance.

The correct answer, the Cost of Living Rider, is associated with term life insurance because it allows policyholders to increase their coverage to keep pace with inflation, ensuring that the death benefit remains relevant in terms of purchasing power. This rider provides an added layer of financial protection without the complexities of investment features or accumulated cash values typically found in permanent life insurance products.

Other features such as guaranteed cash value and loan provisions are typically associated with permanent life insurance policies. These features are absent in term life insurance policies, making them less complex and often more affordable. While some term policies may offer riders like the Cost of Living Rider to enhance benefits, the primary essence of the product remains focused on providing death coverage without investment-like features.