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

5 Factors That May Impact Your Car Insurance Rate

5 Factors That May Impact Your Car Insurance Rate

While there are many factors that could affect your car insurance rates, these five you’ll want to keep at the top of your mind.

Insurance Needs Assessment: Married With Children

Insurance Needs Assessment: Married With Children

When you’re married and have children, insurance needs will be different.

Life Insurance Myths: Debunked

Life Insurance Myths: Debunked

Whether you have life insurance through your work or are retired it pays to know the truth about life insurance coverage.