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 The Administration has made much progress on health care with new and legally sound rules on short-term insurance and health reimbursements. The Editorial Board, WSJ, "Rebuking Trump on Drug Prices," 9 July 2019 The financial insecurity is leading to the increasing popularity of term insurance plans in urban India. Sangeeta Tanwar, Quartz India, "Financially insecure Indians are lapping up insurance products," 5 Mar. 2020 Customers usually prefer more human interaction before committing to long-term insurance policies, which are more profitable. Washington Post, "Ping An Can’t Buy Back Its Lost Fintech Luster," 24 Sep. 2019 Also, premiums for cash-value policies tend to be much higher than premiums for the same amount of term insurance, which has a death benefit but no investment component. Liz Weston, Dallas News, "Four overhyped investment strategies to avoid," 20 Feb. 2020 And GE Capital is still burning through cash linked to its long-term insurance business. Matt Egan, CNN, "Longtime GE bear says Larry Culp 'saved' the iconic company," 10 Feb. 2020 Short-term insurance is generally cheaper than regular insurance, though such plans do not have the same protections that ACA plans give consumers. Stephanie Innes, azcentral, "Arizona enrollment in Obamacare is down by 17% and time is running out," 13 Dec. 2019 Needless to say, such additional long-term insurance comes at a higher cost, further pushing up the overall acquisition cost of sea-facing properties. Prashant Thakur, Quartz India, "Want to buy a sea-facing apartment in India? First talk climate change with your realtor," 12 Dec. 2019 Consider the state’s rule on short-term insurance plans. Michael Hiltzik, Los Angeles Times, "Column: California shows all states how to protect patients from Trump’s attacks on Obamacare," 16 Aug. 2019

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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Cite this Entry

“Term insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/term%20insurance. Accessed 20 Sep. 2020.

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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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