term insurance

A form of life insurance that has no built-in savings feature and does not accumulate any cash surrender value. American Banker Glossary
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Provides a death benefit only, no build up of cash value. Bloomberg Financial Dictionary
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A life insurance policy set up for a specified number of years. If you survive the term of the policy then you do not receive anything. This type of policy is often used to cover long term loans or mortgages. It is the simplest and cheapest form of life insurance. Financial Services Glossary

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term insurance term insurance insurance

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term insurance UK US noun [S or U] (UK also term assurance)
INSURANCE a form of life insurance that lasts for a fixed period of time: »

She has taken out term insurance for $89,000 on the mortgage on her new apartment.

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You will need to buy a term assurance to pay off the loan in the event of your death.

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a term insurance policy/plan


Financial and business terms. 2012.

Look at other dictionaries:

  • term insurance — n: insurance in effect for a set term; specif: term life insurance at life insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Term insurance — Insurance for a specified term providing for no payment to the insured except upon losses during the term, and becoming void upon its expiration. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • term insurance — n. life insurance which expires at the end of a specified period of time * * * …   Universalium

  • term insurance — n. life insurance which expires at the end of a specified period of time …   English World dictionary

  • Term insurance — Provides a death benefit only, no build up of cash value. The New York Times Financial Glossary * * * term insurance term insurance ➔ insurance * * * term insurance UK US noun [S or U] (UK also term assurance) ► INSURANCE …   Financial and business terms

  • term insurance — noun low cost insurance that is valid only for a stated period of time and has no cash surrender value or loan value term insurance is most often associated with life insurance policies • Hypernyms: ↑insurance * * * noun : insurance for a… …   Useful english dictionary

  • term insurance — term′ insur ance n. bus an insurance policy that provides coverage for a limited period, the value payable only if a loss occurs within the term, and without value upon expiration • Etymology: 1895–1900 …   From formal English to slang

  • term insurance — Life insurance under a contract providing protection for a stated number of years, subject to the payment of premiums, sometimes renewable without an additional medical examination, sometimes convertible to other forms of life insurance written… …   Ballentine's law dictionary

  • term insurance — Fin [m1]1. a life insurance policy that will pay out upon the death of the life assured or in the event of the death of the first life assured with a joint life assurance 2. insurance, especially life insurance, that is in effect for a specified… …   The ultimate business dictionary

  • term insurance. — 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] * * * …   Universalium

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