life insurance

noun

: insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured

Examples of life insurance in a Sentence

Recent Examples on the Web

Employees are asked to evaluate life insurance, disability coverage, accident insurance, critical illness insurance, hospital indemnity plans, and other voluntary benefits within a relatively short period of time. — Orla Nixon, Fortune, 29 July 2026

Finally, don’t skip term life insurance for both working and non-working parents, and take care of estate planning, including a will with guardianship instructions, a power of attorney, and a health care proxy. — Jill Schlesinger, Mercury News, 27 July 2026

Since having a big chunk of cash on hand isn’t always realistic, many buy-sell agreements are funded by life insurance. — Kelly Phillips Erb, Forbes.com, 25 July 2026

Wells’ aunt, Heather Booth, said on GoFundMe page that Wells has a small life insurance policy that covered a part of the funeral service and burial, but the family is asking for assistance to fund the rest of the service. — Emily Harter, Kansas City Star, 23 July 2026

Word History

First Known Use

1781, in the meaning defined above

Rhymes for life insurance

• assurance
• durance
• reassurance
• reinsurance

Kids Definition

life insurance

noun

: insurance providing for a specified sum to be paid when the insured person dies

Legal Definition

life insurance

noun

: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance

— ordinary life insurance

: whole life insurance in this entry

— straight life insurance

: whole life insurance in this entry

— term life insurance

: life insurance that provides coverage for a set term and does not accumulate cash surrender value

— universal life insurance

: life insurance characterized by flexible premiums, benefits, and payment schedules, by the indexing of cash value to money market interest rates, and by the periodic reporting of current value and company costs charged to the account

— universal variable life insurance

: variable universal life insurance in this entry

— variable life insurance

: life insurance in which all or part of the cash value of the policy is located in a tax-deferred investment portfolio with risk assumed by the insured for investment losses compare variable annuity at annuity

— variable universal life insurance

: universal life insurance that includes the investment component of variable life insurance

called also universal variable life insurance

— whole life insurance

: life insurance that provides coverage over the life of the insured and that can be sold for surrender value or used as the basis of low-interest loans

called also ordinary life insurance, straight life insurance