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

See Examples For:

term policy

For a 60-year-old male in good health, a 20-year $500,000 term policy currently averages $270 a month or more, depending on the policy and the insurance company issuing it.

From MarketWatch ● Jun. 9, 2026

He is now considering a 20-year term policy.

From The Wall Street Journal ● Jun. 7, 2026

However, he warned that “near term policy uncertainty remains.”

From Barron's ● Feb. 11, 2026

Parliament should give the new department "core objectives and mandates" that "endure beyond the tenure of individual ministers" to avoid repeated short term policy change, the authors say.

From BBC ● Apr. 8, 2024

You should be prepared for this whether you are applying for whole life or a term policy.

From Encyclopedia.com ● Dec. 3, 2018