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

Countdown to College

Countdown to College

Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way.

Just Married? A Guide to Combining Your Insurance

Just Married? A Guide to Combining Your Insurance

If you just recently married, then it may be time to take another look at your insurance policies to see where you can save money.

Data Thieves from Outer Space

Data Thieves from Outer Space

Learn about the dangers of internet fraud with this highly educational and fun “pulp” comic.