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

This will give you the amount that needs to be funded by your life insurance or your investment portfolio. —Essence, 16 Sep. 2023

Two years after his son’s death, Morgan Sr. received $107,000 in life insurance after the shooting death of his fiancee, Michelle Soto. —Alice Yin, Chicago Tribune, 11 Sep. 2023

This program allows businesses to save on their FICA tax contribution while also allowing their employees to get benefits such as disability, life insurance, etc., at no out of pocket cost to the company or its employees. —Nick Kasmik, USA TODAY, 31 Aug. 2023

The insurance companies, some based in Colorado, then had to pay out the life insurance because of her death, according to the defense in court documents. —CBS News, 21 Aug. 2023

The idea is to encourage that person to purchase some — wait for it — life insurance. —Mark Feeney, BostonGlobe.com, 13 Sep. 2023

In an addendum, Thomas lists personal bank accounts and his wife Ginni Thomas' life insurance which were left off reports from 2017 to 2021, and a real estate transaction with Crow first revealed earlier this year by the investigative news site ProPublica. —Devin Dwyer, ABC News, 31 Aug. 2023

After all, who better to fight for record expungement, banning the box on job and college applications, minimum wage inside prisons and jails, or creating universal access to life insurance than those who have experienced these legal blindspots? —Time, 10 Aug. 2023

From a husband who broadcasts his intent to kill his wife on social media to a woman driven to commit murder for a life insurance payout, the series uncovers a world of scenarios that end in murder. —Josie Howell | [e-mail], al, 7 Aug. 2023

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Word History

First Known Use

1781, in the meaning defined above

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