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

Acres of Diamonds

Acres of Diamonds

In life it often happens that the answers to our most pressing questions are right in our own backyards.

8 Common Insurance Mistakes to Avoid

8 Common Insurance Mistakes to Avoid

Having at least a basic insurance plan is essential for anyone. It's important to figure out what insurance plans you need and what works best for you and your family.

To Buy or Not to Buy

To Buy or Not to Buy

The decision whether to buy or rent a home may have long-term implications.