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

Protection includes emergency savings, health insurance, disability and life insurance when others depend on your income, updated beneficiaries and a plan for high-interest debt. —Kristin Vance Richards, Forbes.com, 18 June 2026

Dolly Janowiak took out a $100,000 life insurance policy more than two decades ago with her family in mind. —Megan De Mar, CBS News, 15 June 2026

The finding, in a paper posted online this month and not yet peer-reviewed, adds to concerns about perils lurking in the US life insurance industry. —Weihua Li, Bloomberg, 8 June 2026

On Monday, the French insurer unveiled AXA Global Private, a hub that combines life insurance products with wealth management and succession services for rich families in Asia. —Nicholas Gordon, Fortune, 8 June 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