life insurance

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.

from The Century Dictionary.

• noun See insurance, 1.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun 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).

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun insurance paid to named beneficiaries when the insured person dies