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 Customers also need to take out short-term insurance and items must be returned to the shop in the condition they were loaned. Roxanne Robinson, Forbes, 24 May 2021 However, a whole-life or universal-life policy may cost 5 to 15 times more than a term insurance policy with the same death benefit. Brandon Marz, Forbes, 21 May 2021 Policy owners purchase term insurance for all types of great reasons, including to coincide with paying off major financial obligations, such as a mortgage, college tuition or expenses for raising children. Brandon Marz, Forbes, 21 May 2021 Officials plan to tighten the rules for private short-term insurance plans that are not required to cover a full set of benefits. New York Times, 27 Feb. 2021 Pope, though, says that short-term insurance markets offer plans with different levels of quality, and consumers can choose those higher-quality plans. David Hogberg, Washington Examiner, 18 Jan. 2021 Short-term insurance plans have been growing in popularity. Aimee Picchi, USA TODAY, 17 Nov. 2020 What’s needed: Since the Trump administration’s rules governing short-term insurance markets are purely administrative, they could be revoked by another administration. Marie Fishpaw, National Review, 18 Oct. 2020 Some of those steps — such as allowing people to purchase short-term insurance plans that do not meet the criteria in the Affordable Care Act — would actually weaken protections for people with pre-existing conditions. Sheryl Gay Stolberg, New York Times, 24 Sep. 2020

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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Time Traveler for term insurance

Time Traveler

The first known use of term insurance was in 1897

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Dictionary Entries Near term insurance

terminology

term insurance

terminus

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Cite this Entry

“Term insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/term%20insurance. Accessed 19 Sep. 2021.

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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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