term policy

American  

noun

Insurance.

1. a policy whose period of coverage is in excess of one year, usually paying a reduced premium rate, as in fire insurance.

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Etymology

Origin of term policy

First recorded in 1895–1900

Example Sentences

Since Natiello's two kids are now out of college and he has some universal coverage, the former Wall Street trader decided to let his term policy lapse.

From Reuters

"Ideally, they bought the term policy when they were young, and possibly had small children and a large mortgage," says Kayla Johnson, a financial planner in Wilmington, North Carolina.

From Reuters

If your first term policy is winding up, and you are still in excellent health, shop around for a new term policy.

From Reuters

The best option for finding term life insurance for your husband would be to seek an independent agent who will advocate for you and seek an underwriter willing to build a custom pre-existing conditions exclusion clause into a term policy.

From Slate

“While California businesses both large and small face a maze of environmental regulations as a result of this bill, we believe that this proposal ensures long term policy certainty around recycling and packaging,” Jennifer Barrera, president of the California Chamber of Commerce, said in a statement.

From Seattle Times