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

Applying for Life Insurance? Here's What to Expect

Applying for Life Insurance? Here's What to Expect

Applying for life insurance isn't exactly simple, but it shouldn't be scary either. We've outlined exactly what you can expect when pursuing a new policy.

What is a Loss?

What is a Loss?

Do you know what a Loss is?

Disability and Your Finances

Disability and Your Finances

In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings.