Which of the following is NOT a basic type of term coverage?

Term insurance can generally be categorized into a few basic types based on how the death benefit and premiums are structured. The three recognized types of term coverage are level term, increasing term, and decreasing term.

Level term insurance offers a fixed death benefit for the entire term of the policy, while increasing term insurance provides a death benefit that rises at specified intervals. Decreasing term insurance, on the other hand, features a death benefit that reduces over time, typically used to cover financial obligations that diminish, like a mortgage.

The term "fixed" does not represent a type of term insurance. While "fixed" may imply stable premiums or fixed death benefits, it does not define a specific coverage style in the context of term life insurance classifications. Thus, it is clear that "fixed" does not belong to the fundamental types of term coverage recognized in the insurance industry.