term insurance

American  

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.

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term insurance British  

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

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Etymology

Origin of term insurance

First recorded in 1895–1900

Example Sentences

Also, premiums for cash-value policies tend to be much higher than premiums for the same amount of term insurance, which has a death benefit but no investment component.

From Washington Times

It generally won’t recommend how much term insurance you might need or how expensive a home you can afford.

From New York Times

For that reason, people should carry a mix of term insurance to provide short-term coverage and permanent insurance for protection over the long haul.

From The Wall Street Journal

Atwood’s mission isn’t all about writing wills, picking life or term insurance, and improving your credit score.

From Washington Post

You can often do better just buying the term insurance you need and investing on your own.

From Seattle Times