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extended term insurance

American  

noun

  1. life insurance in which a policyholder ceases to pay the premiums but keeps the full amount of the policy in force for whatever term the cash value permits.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.