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

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.

Did You Know This Fact About Carpooling?

Did You Know This Fact About Carpooling?

Carpooling might save you money on your premiums.

Did You Know This Fact About Fire Extinguishers?

Did You Know This Fact About Fire Extinguishers?

How often should you check your fire extinguishers? Do you know?