term insurance

noun

1. an insurance policy that provides coverage for a limited period, the value payable only if a loss occurs within the term, with nothing payable upon its expiration.

term insurance

noun

1. life assurance, usually low in cost and offering no cash value, that provides for the payment of a specified sum of money only if the insured dies within a stipulated period of time

Word History and Origins

Origin of term insurance¹

First recorded in 1895–1900