life insurance

noun

Definition of life insurance

: 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 Cinven is looking to sell Eurovita, its Italian life insurance business, in a deal that could value it at as much as 600 million euros ($710 million), per Bloomberg. Lucinda Shen, Fortune, "What will happen when Robinhood meets the public markets?," 25 Mar. 2021 Hartford is one of the largest providers of property and casualty insurance products and life insurance products in the U.S. Trefis Team, Forbes, "Hartford Financial Stock Is Trading Slightly Below Its Fair Value," 12 Mar. 2021 Similarly, an investor in a life settlement policy who has a $1 million death benefit will receive $1 million when the seller of the life insurance policy passes. Rob Levin, Forbes, "How Life Settlements Can Offer Returns And Diversification," 9 Mar. 2021 In another text, authorities said Jennifer Faith updated Lopez on her efforts to collect her husband's life insurance policy. Minyvonne Burke, NBC News, "Dallas widow pleaded for answers in husband's murder. Now she is in jail.," 26 Feb. 2021 Good strategies include working for a few more years, saving as much as possible in IRAs and 401(k)s, cutting back on spending, taking on a side gig or two and perhaps cashing out a life insurance policy if it’s no longer needed. Dallas News, "Motley Fool: Cisco had a dismal year but has reason for optimism," 17 Jan. 2021 Another Californian made sure his life insurance policy was up to date. Tal Kopan, SFChronicle.com, "Bay Area lawmakers process their trauma as they press toward Trump impeachment," 12 Jan. 2021 The report did not name the worker who died, but company spokesperson Nikki Richardson said additional life insurance and compensation was given to the family. From Usa Today Network And Wire Reports, USA TODAY, "AA shrine, haunted houses, tramway: News from around our 50 states," 12 Oct. 2020 Northwestern Mutual passed $1 billion in new life insurance premium sales for the first time and saw record cash flows for the retail investment business. Sarah Hauer, Milwaukee Journal Sentinel, "Northwestern Mutual posts 'remarkable year' in 2020, with record revenue, surplus and assets," 18 Feb. 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'life insurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of life insurance

1781, in the meaning defined above

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Time Traveler for life insurance

Time Traveler

The first known use of life insurance was in 1781

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Statistics for life insurance

Last Updated

3 Apr 2021

Cite this Entry

“Life insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/life%20insurance. Accessed 12 Apr. 2021.

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More Definitions for life insurance

life insurance

noun

English Language Learners Definition of life insurance

: a type of insurance that pays money to the family of someone who has died

life insurance

noun

Legal Definition of life insurance

: 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

More from Merriam-Webster on life insurance

Britannica.com: Encyclopedia article about life insurance

Comments on life insurance

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