Which of the following is an example of a life insurance coverage type?

Term insurance is a type of life insurance coverage that provides financial protection for a designated term or period, typically ranging from one to thirty years. If the policyholder passes away during this period, the policy pays a death benefit to the designated beneficiaries. This form of insurance is specifically designed to provide a payout upon death, which aligns with the fundamental purpose of life insurance.

In contrast, health insurance focuses on covering medical expenses and does not provide a death benefit. Property insurance protects against risks to property such as theft or damage but is not related to life coverage. Auto insurance similarly provides coverage for vehicles against damage or liability but has no connection to life insurance. Thus, term insurance correctly represents a type of life insurance, distinguishing it from the other types of coverage mentioned.