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Business Glossary
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Definitions for: term life insurance
Dictionary of Finance and Investment Terms
term life insurance

form of life insurance, written for a specified period, that requires the policyholder to pay only for the cost of protection against death; that is, no cash value is built up as in whole life insurance. Every time the policy is renewed, the premium is higher, since the insured is older and therefore statistically more likely to die. Term insurance is far cheaper than whole life, giving policyholders the alternative of using the savings to invest on their own.

Copyright © 2006, 2003, 1998, 1995, 1991, 1987, 1985 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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Industry Associations

Industry Associations
Woodmen of the World/Omaha Woodmen Life Insurance Society
Offers insurance protection with member benefits. Product portfolio includes whole life, flexible premium life and term life insurance, cancer insurance, hospital supplement insurance, long term care insurance and annuities. Mutual ...

Members: 800,000
Founded: 1890

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