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

What to Look for in an Extended-Care Policy

What to Look for in an Extended-Care Policy

Here’s a list of 8 questions to ask that may help you better understand the costs and benefits of extended-care insurance.

The 5 Roles Life Insurance Can Play in Retirement

The 5 Roles Life Insurance Can Play in Retirement

A life insurance policy can supplement your retirement financial strategy by being a source of emergency cash or loan funds, or by simply providing the confidence that comes from knowing you've covered all the bases.

Did You Know This Fact About Fire Extinguishers?

Did You Know This Fact About Fire Extinguishers?

How often should you check your fire extinguishers? Do you know?