term policy

noun

, Insurance.

1. a policy whose period of coverage is in excess of one year, usually paying a reduced premium rate, as in fire insurance.

Word History and Origins

Origin of term policy¹

First recorded in 1895–1900

Example Sentences

Parliament should give the new department "core objectives and mandates" that "endure beyond the tenure of individual ministers" to avoid repeated short term policy change, the authors say.

From BBC

You should be prepared for this whether you are applying for whole life or a term policy.

From Encyclopedia.com

"Trump was probably the first president to use the National Emergency Act and national emergency declarations for the express purpose of getting around Congress on a question of long term policy," Goitein said.

From Reuters

With the coronavirus pandemic consuming the rest of Mr. Trump’s term, policy remained unchanged.

From New York Times

Since Natiello's two kids are now out of college and he has some universal coverage, the former Wall Street trader decided to let his term policy lapse.

From Reuters