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 Dryer Lint?

Did You Know This Fact About Dryer Lint?

Dryer lint is extremely flammable, and should be cleaned regularly

Who Does Survivorship Life Insurance Benefit?

Who Does Survivorship Life Insurance Benefit?

Later in life, the pros and cons of different life insurance policies are important considerations for married couples. It's vital to choose a life insurance policy that suits your unique circumstances.

What You Should Do About Insurance Following a Divorce

What You Should Do About Insurance Following a Divorce

In the face of divorce, making changes to insurance coverage may be overlooked.