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Insurance providing coverage for losses to the insured during a stated period but becoming void upon its expiration.
(Insurance) life assurance, usually low in cost and offering no cash value, that provides for the payment of a specified sum of money only if the insured dies within a stipulated period of time
an insurance policy that provides coverage for a limited period, the value payable only if a loss occurs within the term, and without value upon expiration.
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|Noun||1.||term insurance - 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"|
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company