Which insurance type is designed primarily for short-term needs?

Term Life Insurance is designed primarily for short-term needs because it provides coverage for a specific period, typically ranging from one to thirty years. This type of insurance is ideal for individuals who need life insurance to cover particular financial responsibilities such as a mortgage, child education, or other debts that may have a time limit.

At the end of the term, the coverage expires, and there is no cash value accumulation; it serves purely as a safety net for the designated term. This makes it cost-effective for those who may not need permanent coverage throughout their entire lives.

In contrast, options like Permanent Life Insurance, Universal Life Insurance, and Whole Life Insurance are intended for long-term protection and include features such as cash value accumulation. This means those types of insurance addresses lifelong coverage needs rather than the short-term, which distinguishes Term Life Insurance as the best choice for individuals looking for temporary financial security.