Which of the following policies does NOT build cash value?

Term life insurance is designed solely for providing death benefits to the insured's beneficiaries if the insured passes away during the term of the policy. Unlike permanent life insurance policies, which include features such as cash value accumulation, term policies do not include this provision. This means that while the policyholder pays premiums to secure coverage for a specified period, there is no savings component that accumulates cash value over time. Thus, at the end of the term, if the insured does not pass away, the policy typically has no value to the policyholder.

In contrast, straight life, endowment, and variable life policies are structured to build cash value. Straight life insurance is a type of whole life insurance that provides both a death benefit and a cash value component that grows over time. An endowment policy pays a benefit at the end of a specified period or upon death, also accumulating cash value during its term. Variable life policies include investment options, which can also lead to cash value growth, depending on the performance of the investments chosen by the policyholder.

Understanding these distinctions is crucial when evaluating different types of life insurance and their associated benefits.