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

Example Sentences

“Short term insurance provides an important and affordable option for many consumers in need of temporary and flexible coverage lengths,” Maria Gordon Shydlo, a UnitedHealthcare spokesperson, said in an emailed statement regarding Golden Rule.

From ProPublica

I am trying to decide whether I should convert some or all of my term insurance into whole life insurance.

From The Daily Beast

Roughly, the same amount of term insurance may be taken out for each child.

From Project Gutenberg

Renewable term-insurance premiums are lower than straight life insurance because in the former there is no cash surrender value.

From Project Gutenberg

Term insurance, like fire insurance, buys protection—and nothing else.

From Project Gutenberg