term policy

noun, Insurance.

a policy whose period of coverage is in excess of one year, usually paying a reduced premium rate, as in fire insurance.

Origin of term policy

1895-1900

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2016.
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Examples from the Web for term policy

Historical Examples

The term policy, as its name implies, is issued for a term of one or more years.

The Atlantic Monthly, Volume 18, No. 107, September, 1866 Various

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