Definitions for "Term insurance"
Keywords:  cheapest, dies, survive, renew, expires
Insurance for a specified term providing for no payment to the insured except upon losses during the term, and becoming void upon its expiration.
A plan of insurance that covers the insured for only a certain period of time (term), not for his or her entire life. The policy pays death benefits only if the insured dies during the term
written for a specific period and pays a death benefit if the insured dies within that time period.