term-insurance

term insurance

noun
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.

Origin:
1895–1900

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
term insurance
 
n
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

Collins English Dictionary - Complete & Unabridged 10th Edition
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