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

If You're In An Accident

If You're In An Accident

Learn the best steps to take after you’ve been in an automobile accident with this useful, step-by-step video.

Did You Know This Fact About Claims Advances?

Did You Know This Fact About Claims Advances?

If a fire forces you out of your home, you can ask for a claim advance.

Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

When considering life insurance, it's important to understand your options.