term life insurance
- A simple insurance that provides monetary benefits if a policyholder dies during a specific time period, but doesn't accumulate cash value or serve as loan collateral
- He decided to buy term life insurance to ensure financial security for his family.
- As a young, healthy individual, her yearly premium for term life insurance was quite low.
- Renewal of the term life insurance policy became more costly as the aging policyholder's risk of death increased.
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