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

Buying a term insurance policy can protect your loved one for 10 or even 20 years if you die during that period.

From MarketWatch • Feb. 13, 2026

Smedsrud said a different option also under consideration by the White House, to loosen restrictions on "short term" insurance plans, could be a safety valve for some consumers.

From Time • Oct. 9, 2017

He also has the term insurance policies set up so the money would go into an irrevocable trust upon his death, meaning no estate taxes would be due.

From New York Times • Aug. 19, 2010

Technically, it’s a “blended” whole life-term insurance policy where cash additions gradually reduce the term insurance component over time.

From New York Times • Aug. 19, 2010

Should we change from whole-life to term insurance?

From "The Joy Luck Club" by Amy Tan