Final answer:
Term insurance is the least expensive kind of life insurance that offers protection alone.
Step-by-step explanation:
The correct answer to the given question is d. Term insurance.
Term insurance is a type of life insurance that provides coverage for a specific term or period, such as 10, 20, or 30 years. It offers protection alone without any cash value or investment component, making it the least expensive kind of life insurance.
For example, if a policyholder purchases a 20-year term insurance policy with a death benefit of $500,000, their beneficiaries will receive the full death benefit if the policyholder dies within the 20-year term. However, if the policyholder outlives the term, the policy will expire without any value.