term insurance

WordReference Random House Unabridged Dictionary of American English © 2026

term′ insur′ance. 

1. Business an insurance policy that provides coverage for a limited period, the value payable only if a loss occurs within the term, with nothing payable upon its expiration.

• 1895–1900

Collins Concise English Dictionary © HarperCollins Publishers::

term insurance noun

1. life assurance, usually low in cost and offering no cash value, that provides for the payment of a specified sum of money only if the insured dies within a stipulated period of time