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Definition of Life insurance
1. Noun. Insurance paid to named beneficiaries when the insured person dies. "In England they call life insurance life assurance"
Exact synonyms: Life Assurance
Generic synonyms: Insurance
Specialized synonyms: Endowment Insurance, Tontine, Tontine Insurance, Ordinary Life Insurance, Straight Life Insurance, Whole Life Insurance
Generic synonyms: Insurance
Specialized synonyms: Endowment Insurance, Tontine, Tontine Insurance, Ordinary Life Insurance, Straight Life Insurance, Whole Life Insurance
Definition of Life insurance
1. Noun. (context: insurance) A form of insurance on the life of a person. If the person dies then the insurance policy pays out a sum of money to the policyholder (such as a person's family). ¹
¹ Source: wiktionary.com