life insurance

noun

: 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

But Maricopa County prosecutors allege that Lori Vallow planned the killing, saying her motive was two-fold: to marry Daybell and get a payout from a $1 million life insurance policy. —Bill Chappell, NPR, 2 Apr. 2024

Daybell was also charged with two counts of insurance fraud for allegedly increasing Tammy Daybell’s life insurance policies. —Alex Brizee, Idaho Statesman, 1 Apr. 2024

His father was a life insurance salesman, and his mother, Betty Ann (Murphy) Campbell, managed the household. —Michael S. Rosenwald, New York Times, 15 Mar. 2024

Four months before Odom was killed, another life insurance company also received an application for Odom. —Minnah Arshad, USA TODAY, 5 Mar. 2024

Just be cautious of ‘hybrid’ policies that blend long-term care insurance with life insurance. —The Enquirer, 23 Feb. 2024

Ultimately, the intersection of AI and life insurance is a complex and evolving field. —Neil Sahota, Forbes, 21 Feb. 2024

And that would mean the three quarters of a million life insurance policy, the house, 401ks. —Michelle Miller, CBS News, 9 Mar. 2024

For example, there may be real estate on both sides, multiple savings and retirement accounts, life insurance policies with different owners and beneficiaries, and, of course, kids from prior relationships. —Bruce Helmer and Peg Webb, Twin Cities, 3 Feb. 2024

Word History

First Known Use

1781, in the meaning defined above

Kids Definition

life insurance

noun

: insurance providing for a specified sum to be paid when the insured person dies

Legal Definition

life insurance

noun

: 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