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

Unexpected Collectors: Protecting Your Passion

Unexpected Collectors: Protecting Your Passion

Whether you meant to be a collector or not, your prized possessions need to be protected.

The Right Time to Buy an Annuity

The Right Time to Buy an Annuity

Learn how timing can influence your decision about if and when to buy.

What to Look for in Personal Finance Apps

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.