life insurance

American  

noun

1. insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age.

---

life insurance British  

noun

1. another name for life assurance

---

Etymology

Origin of life insurance

First recorded in 1800–10

Example Sentences

My husband notified his adult children of upcoming heart surgery, and instead of either of them expressing concern or offering to drive to see him, his son asked, “Who’s the beneficiary on your life insurance?”

From MarketWatch

While beneficiary designations can seamlessly pass on money accounts and life insurance, there are other loose ends to tie up.

From MarketWatch

If you have anyone counting on you for support or you have outstanding debt, your loved ones need protection with life insurance.

From MarketWatch

It tells the story of a retired couple who are presented with the opportunity to claim life insurance when the husband is mistakenly declared to have died.

From BBC

If leaving money to your heirs matters, you can buy life insurance and name them as beneficiaries, or choose annuity options with a period-certain guarantee, though the latter reduce your monthly payment.

From The Wall Street Journal