Noun: ordinary life insurance
- Insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
"He opted for ordinary life insurance for its guaranteed death benefit and cash value accumulation";
- whole life insurance, straight life insurance
Derived forms: ordinary life insurances
Type of: life assurance [Brit, Cdn], life insurance [N. Amer]
Encyclopedia: Ordinary life insurance