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 Night Safety?

Did You Know This Fact About Night Safety?

Follow this tip to increase your children's visibility at night.

Money that Buys Good Health is Never Ill Spent

Money that Buys Good Health is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.

The Richest Man in Babylon

The Richest Man in Babylon

In good times and bad, consistently saving a percentage of your income is a sound financial practice.