The correct answer is D. Income replacement.
Term insurance is a type of life insurance that provides coverage for a specified period of time, or term. The death benefit is paid out to the beneficiary if the insured person dies during the term of the policy. Term insurance is a good option for people who need to protect their income in the event of their death. For example, if you have a spouse and children who depend on your income, term insurance can help to ensure that they are financially secure if you die.
Tax planning is not a primary purpose of term insurance. While some term policies may offer tax advantages, these are not the primary reason for purchasing term insurance.
Savings is not a primary purpose of term insurance. While some term policies may offer a savings component, this is not the primary reason for purchasing term insurance.
Disease is not a primary purpose of term insurance. While some term policies may offer coverage for certain diseases, this is not the primary reason for purchasing term insurance.