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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Want to be Smarter With Your Money?

Join our mailing list and get news and info to support your financial goals.



Thank you! Oops!
 

Related Contents

Accidents

Accidents

Accidents happen to everyone. We’re here to help.

Teen Drinking and Your Liability

Teen Drinking and Your Liability

Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.