life insurance

Definition

Insurance to be paid to a beneficiary when the insured dies.

Use life insurance in a sentence

I was paid some life insurance when my aunt passed away which I used to cover the cost of her funeral and burial.

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It is never a bad idea to take out a life insurance policy. Young or not, there is peace of mind knowing if anything happens to you, your family will not be left with the burden of your expenses.

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In an unusual move, our corporation has implemented a new employee benefit in which employees are able to purchase subsidized life insurance policies at a substantial discount.

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second-to-die insurance waterfall concept