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

Since having a big chunk of cash on hand isn’t always realistic, many buy-sell agreements are funded by life insurance. — Kelly Phillips Erb, Forbes.com, 25 July 2026

Wells’ aunt, Heather Booth, said on GoFundMe page that Wells has a small life insurance policy that covered a part of the funeral service and burial, but the family is asking for assistance to fund the rest of the service. — Emily Harter, Kansas City Star, 23 July 2026

Two Charlotte brokers are facing accusations of filing false life insurance applications for profit, according to North Carolina Insurance Commissioner Mike Causey. — Mark Price july 22, Charlotte Observer, 22 July 2026

According to her complaint, Tenisha and Malcolm-Jamal Warner’s premarital agreement stated that the actor should purchase and maintain a term life insurance policy of $1 million with his wife as the sole beneficiary. — Alexandra Del Rosario, Los Angeles Times, 22 July 2026

Word History

First Known Use

1781, in the meaning defined above

Rhymes for life insurance

• assurance
• durance
• reassurance
• reinsurance

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