Well, there is such a thing as a CENTRIFUGAL FORCE TERM, but it isn't actually a force. It is just a portion of an equation that happens to have force units.
To explain what I mean, you must first define a force. I define it as a method by which one object uses in attempt to alter the motion of another object.
For gravity, it is obvious that it is a force. The sun is pulling inward on the planet that orbits it. We identify a target object (the planet), we identify an agent object (the sun). We identify that the sun alters the motion of the planet. Thus we identify a force, that we call gravity.
For the "centrifugal force", there is no agent. Hence it isn't a force. You think the planet is being pulled outward by something, but you can't figure out what that something is. And since all forces are a "two way street", what is the planet pulling inward, in conjunction with it being pulled outward?
To get a better idea, you need to look at it from the perspective of an observer in interstellar space, who is by definition, not accelerating at all. An inertial reference frame, as we call it.
A planet orbiting the sun HAS an acceleration. Due to the fact that it is consistently changing direction, it must be changing velocity. Thus it must have an acceleration. The acceleration is directed inward, as to cause change in direction (instead of primarily a change in speed). We call such an acceleration, centripetal acceleration. In contrast with tangential acceleration, that which causes change in speed.
Neglecting planet-to-planet gravity, any gravity from outside its own planetary system, and local effects from its own satellites, there is no other significant force acting on the planet, other than the gravity of the sun. This becomes the NET FORCE, and this net force causes the centripetal acceleration of the planet.
This forms a dynamic equilibrium. The gravity of the star causes just enough net force on the planet, for it to make its orbit. Think of the planet as constantly falling, and continuously overshooting its "target".
If the sun were to cease to exist, I assure you that the planets' subsequent motion will be tangential, and not radial. That is to say, the planets will not go directly outward, opposite the sun's gravity. The planets will take their existing velocity, and keep it. Keep moving in the direction that they were, and simply cease to steer inward.