Long-term insurance

{
  "id": "MLC-T-INS-002057",
  "term": "Long-term insurance",
  "field": "Insurance and risk management",
  "definition": "A category of insurance contracts that provide coverage for events over an extended period, contrasting with short-term policies that are renewed annually. These policies, such as life insurance, disability insurance, and critical illness cover, are underwritten based on the policyholder's long-term risk profile. In many jurisdictions, long-term and short-term insurance businesses are regulated under separate legal frameworks and require distinct licenses to operate.",
  "url": "https://mlchart.com/terminology/insurance/long-term-insurance/"
}