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

Test Your Life Insurance Knowledge

Test Your Life Insurance Knowledge

How much do you know about one of the most important tools you have to help protect your and your family’s financial future?

Gap Insurance for Leased Cars

Gap Insurance for Leased Cars

If you’re thinking of leasing a new car, then you shouldn’t forget about gap insurance.

A Brief Guide To Condo Insurance

A Brief Guide To Condo Insurance

Important items to consider when purchasing condo insurance.