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term life insurance

noun
1.
life insurance for which premiums are paid over a limited time and that covers a specific term, the face value payable only if death occurs within that term.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Contemporary definitions for term life insurance
noun

a type of insurance where the insurance company pays a specified amount if the insured person dies while covered but there is borrowing power, benefits at retirement, or cash value; also called [term insurance]

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