Term assurance

Noun

Word Frequency: 0.4

Definitions

1.NounLife insurance that pays out a lump sum benefit on the death of the life assured within the term of the policy, and nothing on survival to the end of the term.

Synonyms

level term assurance life assurance endowment assurance increasing term assurance decreasing term assurance pure endowment life insurance endowment policy life assurance life assured life annuity

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