Which type of life insurance coverage does NOT belong to Term Life insurance?

Term life insurance provides coverage for a specified period, typically with options that adjust in terms of face value or cost. The first three options listed—Level Term, Decreasing Term, and Increasing Term—are all variations of term life insurance.

Level Term maintains the same death benefit throughout the policy's duration, ensuring a consistent payout for the policyholder's beneficiaries. Decreasing Term features a coverage amount that diminishes over time, often aligning with financial obligations like a mortgage that also decreases as time passes. Increasing Term, on the other hand, involves premiums that may remain stable or rise, while the coverage amount increases over the policy's life, providing inflation protection.

Modified Whole Life, however, does not fit into the term life insurance category. Instead, it combines elements of both whole life and term insurance, generally featuring lower premiums in the initial years that later adjust to a higher fixed premium for the remainder of the policy. This unique structure characterizes it distinctly from the term life products listed, which only provide death benefit coverage for a temporary period without accumulating cash value. Thus, Modified Whole Life is not associated with the core principles of Term Life insurance.