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

But term insurance alone doesn’t solve the bigger problem of creating permanent liquidity for a special-needs trust or estate-planning purposes, regardless of when death occurs.

From MarketWatch • Jun. 16, 2026

They already own $3 million of 30-year term insurance to protect the family during peak earning years.

From MarketWatch • Jun. 16, 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

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