Crossword Genius

Phone wife or daughter in new term (4,4)

Ross

I believe the answer is:

buzz word

'new term' is the definition.

'phone wife or daughter' is the wordplay.
'phone' becomes 'buzz' (informal term for a phonecall).
'wife' becomes 'w'.
'daughter' becomes 'd'.
'buzz'+'w'+'or'+'d'='BUZZ WORD'

'in' acts as a link.

(Other definitions for buzz word that I've seen before include "Bit of jargon that's become fashionable to say" , "Unit of speech in vogue" , "Bit of in-group jargon" .)

I've seen this clue in The Telegraph.
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