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

Life Insurance Explained

Life Insurance Explained

Looking to learn about life insurance? This comprehensive article is a great place to start.

Should I Buy or Lease an Auto?

Should I Buy or Lease an Auto?

This calculator compares the financial impact of leasing versus buying an automobile.

The Three Keys to a Great Password

The Three Keys to a Great Password

Have fun and learn how to craft the perfect password with the help of this highly engaging infographic.