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

What is a Deductible?

What is a Deductible?

Do you know what a Deductible is?

When is the Right Time to Buy Life Insurance?

When is the Right Time to Buy Life Insurance?

It's never too early to start thinking about life insurance. Waiting until you're older or in poor health is never a good idea.

Keep Your Umbrella Handy

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.