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.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

Tax Rules When Selling Your Home

Tax Rules When Selling Your Home

The tax rules governing profits you realize from the sale of your home have changed in recent years.

Budget Check Up: Tax Time Is the Right Time

Budget Check Up: Tax Time Is the Right Time

Tax preparation may be the perfect time to give the household budget a check-up.

How Compound Interest Works

How Compound Interest Works

Use this calculator to better see the potential impact of compound interest on an asset.