Term life insurance is characterized by: a

Option d Lower initial premiums than other types of insurance is correct.

Reason:

Term life insurance is a insurance in which a person is is insured up to a particular time or term period. If a person dies within the period as specified in the policy then amount specified in the policy will be paid to the family or nominee of the person died. But in case if the person does not Die within the term Period of the policy then the insurance policy gets expires and no amount will be paid thereafter. As such insurance is for limited time period only they are comparatively less costly then other Life Insurance.

Option a. Cash value accumulation is not correct because under term Life Insurance a person is insured only up to the period specified in the policy there after no amount is paid therefore it is not a cash value accumulation kind of policy.

Option b. Permanent coverage of young applicant is not correct because term Life Insurance is for a specific time period or a term period only it is not a permanent coverage throughout the life. Once the time period specified in the policy ends the coverage also ends.

Option c. non convertible is not correct because term Life Insurance usually comes with a conversion option under which a policy holder can convert its policy into permanent life insurance.

Option e. Level annual premium throughout one's life is not correct because as discussed earlier term Life Insurance policy are not for full life they for a particular period of time only therefore it does not level the annual premium throughout one's life.