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 Court documents reveal Daybell took out a large life insurance policy on Tammy, and Lori continued to collect her children's social security survivor benefits after their deaths. CBS News, 7 Oct. 2021 Murdaugh is charged with hiring another man to kill him Labor Day weekend, so his surviving son, Buster, could collect on a $10 million life insurance policy. Danielle Wallace, Fox News, 3 Oct. 2021 That January, the order became the Praetorian Mutual Life Insurance Co., a legal reserve life insurance company. Spencer Bevis, Dallas News, 26 Sep. 2021 Prosecutors said that the murder was committed as part of a plot to collect on McLaughlin's $1 million life insurance policy. Chris Harris, PEOPLE.com, 24 Sep. 2021 The purpose of the scheme was to allow Murdaugh's eldest son to collect a $10 million life insurance policy, according to law enforcement. Devon M. Sayers And John Murgatroyd, CNN, 22 Sep. 2021 Authorities said Murdaugh asked Curtis Edward Smith to kill him with a shot to the head on Sept. 4 so his surviving son could collect a $10 million life insurance policy, authorities said. Jeffrey Collins, orlandosentinel.com, 17 Sep. 2021 According to research by Coventry Direct, every year older adults allow $100 billion in life insurance policies lapse. Sara Zeff Geber, Forbes, 18 Sep. 2021 Many insurers refused to apply the new law to life insurance policies that had been issued before 2013. Bob Egelko, San Francisco Chronicle, 30 Aug. 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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Dictionary Entries Near life insurance

life income policy

life insurance

life jacket

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Statistics for life insurance

Last Updated

12 Oct 2021

Cite this Entry

“Life insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/life%20insurance. Accessed 16 Oct. 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

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