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?

Related Content

Consider Keeping Your Life Insurance When You Retire

Reasons to retain your coverage into your retirement years.

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.

5 Costly Mistakes In Your Life Insurance Policy

Make sure your family understands these life insurance mistakes and how to avoid them.