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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Be My Beneficiary

Be My Beneficiary

Here’s a surefire way to keep the romance in your relationship: Light the candles. Uncork the wine. Pull up a spreadsheet...

Did You Know This Fact About Freestanding Structures?

Did You Know This Fact About Freestanding Structures?

Separate structures on your property may have to be insured separately.

Financial Hacks for Millennials: It is Prime Time to Save

Financial Hacks for Millennials: It is Prime Time to Save

While research shows you are saving and earning more than your parents, (woohoo!), are you preparing for the future you want? How can you ensure you are on track to make the most out of these important decades?