Insurance

What is a Term?

Term

[turm]

noun

1.

The Term is the length of time a specific insurance Policy is effective. This feature is most commonly found in life insurance, where the Policy is only good for a specific length of time, or “term” of a person’s life.

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

Did You Know This Fact About Trampolines?

Did You Know This Fact About Trampolines?

Trampolines cause thousands of injuries per year.

Did You Know This Fact About Flood Damage?

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.

Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

When considering life insurance, it's important to understand your options.