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

Will It Pay to Buy Travel Insurance This Summer?

Will It Pay to Buy Travel Insurance This Summer?

While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.

The Lowdown on Those Free Credit Scores

The Lowdown on Those Free Credit Scores

What’s the deal with your yearly free credit report?

Creative Ways to Motivate Your Employees

Creative Ways to Motivate Your Employees

Five creative (and inexpensive) ideas for motivating your employees.