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 Parking in a Garage?

Did You Know This Fact About Parking in a Garage?

Save money by parking your car in your garage.

Fallen Tree Damage—Who Pays?

Fallen Tree Damage—Who Pays?

Your liability for damages that occur when a tree on your property falls on your neighbor’s property is not clear cut.

What is a Deductible?

What is a Deductible?

Do you know what a Deductible is?