Mrs. Rose Cortez has a policy that does not allow for cash value buildup and has level premiums. What type of policy does she own?

Mrs. Rose Cortez has a policy that features level premiums and does not allow for cash value buildup. This description aligns with a level term policy. Level term insurance provides a death benefit that remains consistent throughout the life of the policy while requiring the insured to pay fixed premiums for the duration of the term.

In level term policies, there is no cash value component, which is crucial to distinguish them from whole life or universal life policies that typically offer a cash value accumulation feature. The primary purpose of level term insurance is to provide a straightforward death benefit for a specific period, ensuring financial protection for beneficiaries without the added complexities of a cash value accumulation.

Understanding these characteristics reinforces the idea that level term insurance is tailored for those seeking temporary coverage without the investment aspects associated with other types of life insurance products.