term insurance

/tərm ɪnˌʃʊrəns/
IPA guide

Definitions of term insurance
  1. 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”
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    type of:
    insurance
    promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
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