life insurance

noun
insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age.

Origin:
1800–10

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Collins
World English Dictionary
life insurance
 
n
another name for life assurance

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Price is celebrated for creating the first actuarial model for life insurance.
Why do smokers pay more for life insurance but obese participants in the pool
  do not.
Billions of dollars in unclaimed life insurance benefits are at the center of a
  legal wrestling match.
Sculptors must have personal medical, accident or life insurance upon
  registration.
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