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

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 California lawmakers are weighing legislation that would forbid the use of short-term insurance plans entirely. Lisa Schencker, chicagotribune.com, "Illinois groups push to restrict short-term insurance, as Trump administration seeks to expand it," 25 May 2018 Short-term insurance policies were originally intended for people who were between jobs or needed temporary coverage for other reasons. Robert Pear, New York Times, "Trump’s Plan for Cheaper Health Insurance Could Have Hidden Costs," 15 May 2018 Just last week, Medicare's own chief actuary, Paul Spitalnic, estimated that expanding short-term insurance would suck as many as 800,000 consumers out of the ACA market, driving premiums higher by 3% in the first year and up to 6% a year by 2022. Michael Hiltzik, latimes.com, "States start pushing back against Trump's junky short-term health plans," 23 May 2018 Under current rules, such short-term insurance cannot last for more than three months. Robert Pear, New York Times, "Trump’s Plan for Cheaper Health Insurance Could Have Hidden Costs," 15 May 2018 Norton would offer short-term insurance and a cheap run-stopping option for the next four years. Terez A. Paylor, kansascity, "The Star’s seven-round Chiefs NFL draft projection, version 1.0 | The Kansas City Star," 14 Apr. 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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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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