term insurance

noun

Definition of term insurance

: insurance for a specified period that provides for no payment to the insured except on losses during the period and that becomes void upon its expiration

Examples of term insurance in a Sentence

Recent Examples on the Web

At the end of the Obama administration, regulators cut the allowable length of short-term insurance from 12 months to three. Dylan Scott, Vox, "In the Trump administration, “short term” health insurance can last for 3 years," 2 Aug. 2018 But that would gut GE Capital’s revenues, a major risk if the lending division discloses more losses from its long-term insurance portfolio. Matt Wirz, WSJ, "What GE Needs to Do to Avoid Junk Territory," 9 Jan. 2019 Patient groups are taking the Trump administration’s new regulations expanding short-term insurance to court. Dylan Scott, Vox, "The new lawsuit to save Obamacare, explained," 14 Sep. 2018 The changes, which take effect in 2021, will affect the way companies value their long-term insurance contracts like life insurance, long-term care policies and annuities. Michael Rapoport, WSJ, "New Rules Look to Make Insurance Contracts More Transparent for Investors," 15 Aug. 2018 But as president, Mr. Trump has pursued more-conventional Republican policies, such as adding work requirements to Medicaid, expanding short-term insurance plans, and broadening association health plans. Bobby Jindal, WSJ, "Why Republicans Stick With Trump," 30 Aug. 2018 Short-term insurance had long been defined, by states and the federal government, as coverage lasting less than 12 months. Robert Pear, New York Times, "Trump Moves to Relax Rules on Cheaper Health Insurance," 20 Feb. 2018 The Trump administration has expanded non-Obamacare coverage, through association health plans and short-term insurance that is not required to comply with the law’s rules about preexisting conditions. Dylan Scott, Vox, "Obamacare premiums are going to go up in 2019. Here’s what you should know.," 15 June 2018 The administration is determined to open the gates wider to low-benefit plans that currently can be sold only as short-term insurance. Michael Hiltzik, latimes.com, "Inside the Trump administration's assault on protections for people with preexisting medical conditions," 11 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'term 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 term insurance

1897, in the meaning defined above

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Statistics for term insurance

Last Updated

3 Feb 2019

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Time Traveler for term insurance

The first known use of term insurance was in 1897

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More Definitions for term insurance

term insurance

noun

English Language Learners Definition of term insurance

: a type of insurance that is provided for a specified period of time

term insurance

noun

Legal Definition of term insurance

: insurance in effect for a set term specifically : term life insurance at life insurance

More from Merriam-Webster on term insurance

Britannica.com: Encyclopedia article about term insurance

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