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 Unattended Cooking?

Did You Know This Fact About Unattended Cooking?

Do you know unattended cooking is a leading cause of fatal home fires?

Immediate vs. Deferred Annuities

Immediate vs. Deferred Annuities

Looking forward to retirement? It's critical to understand the difference between immediate and deferred annuities.

Did You Know This Fact About Smoke Detectors?

Did You Know This Fact About Smoke Detectors?

Do you know how often to change the batteries on your smoke detectors?