Definition of “term insurance” - English Dictionary


“term insurance” in Business English

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term insurancenoun [ S or U ]

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

(Definition of “term insurance” from the Cambridge Business English Dictionary © Cambridge University Press)

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