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

Oh wow, Sean took out a huge life insurance policy on Emily before her death. —Emma Specter, Vogue, 26 Apr. 2025

Prosecutors said that Lori wanted Vallow, who had filed for divorce, dead in order to collect a life insurance policy and marry Chad Daybell, who authored religious doomsday books. —Nicole Acosta, People.com, 25 Apr. 2025

Prosecutors told the court that Vallow Daybell had acted out of self-interest, not self-preservation, with plans to cash in on her estranged husband’s $1 million life insurance policy. —Theresa Braine, New York Daily News, 24 Apr. 2025

Key forms of coverage to consider include life insurance to support dependents in the event of a policyholder’s death, health insurance to manage the rising cost of medical care, and disability insurance to safeguard income during periods of inability to work. —True Tamplin, Forbes.com, 23 Apr. 2025

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