Abstract: A method for providing life insurance includes issuing a life insurance policy to an insured with a face amount payable to a beneficiary and a term certain. Premiums are collected periodically from the insured until either the term certain expires or the death of the insured, whichever comes first. The life insurance policy includes a decreasing term component and a paid-up component, such that the face amount of the life insurance policy is paid to the beneficiary upon the death of the insured. The life insurance policy has no cash surrender value.