Which of these life insurance policies does NOT contain a cash value provision?

The correct choice is based on the characteristics of different types of life insurance policies. Decreasing term life insurance is specifically designed to provide a death benefit that decreases over time, typically aligning with certain financial responsibilities, such as a mortgage. This type of insurance is purely term-based and is intended for temporary coverage, which means it does not accumulate cash value.

In contrast, policies like modified whole life, universal life, and adjustable life all include cash value components. These types of policies are structured to accumulate cash value over time, allowing policyholders to access this value through loans or withdrawals, making them distinct in their financial benefits compared to decreasing term life. Understanding these differences is crucial for anyone studying life insurance, as it highlights the purpose and benefits of each policy type.