'Term insurance' definitions:
Definition of 'term insurance'
(from WordNet)
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"
Definition of 'Term insurance'
From: GCIDE
- Term insurance \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.]