term life insurance

Definition

A life insurance policy which provides a stated benefit upon the holder's death, provided that the death occurs within a certain specified time period. However, the policy does not provide any returns beyond the stated benefit, unlike an insurance policy which allows investors to share in returns from the insurance company's investment portfolio.

Use term life insurance in a sentence

We had term life insurance, but I did not want to thing about the prospect of my grandma passing away.

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Unfortunately, Rosa's family received no monetary support after her death because the incident fell outside of her term life insurance.

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My partner and I had a long talk over breakfast this morning about term life insurance. We weighed the pros and cons and found ourselves wanting to talk to an expert on the matter.

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decreasing term insurance group term life insurance (GTL)