{"iri":"https://folio.openlegalstandard.org/R8tHU2UcmJzAEBDUdM51ays","label":"Term Life Insurance","sub_class_of":["https://folio.openlegalstandard.org/RDMlfBHhw2Mfk0FBrVCQJY9"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{},"hidden_label":null,"definition":"Term life insurance is a policy that provides coverage for a specified period, or \"term,\" usually ranging from 10 to 30 years. If the insured individual dies within this term, the death benefit is paid out to the beneficiaries; however, if the term expires and the policyholder is still alive, there is generally no payout.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}