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!

Related Content

Your DNA Test

Your DNA Test

If your family relies on your income, it’s critical to know what their needs would be in the event of your death.

What You Should Do About Insurance Following a Divorce

What You Should Do About Insurance Following a Divorce

In the face of divorce, making changes to insurance coverage may be overlooked.

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.