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

The Case of the Crooked Credit Report

Solve a mystery while learning how important your credit report is with this story-driven interactive.

5 Costly Mistakes In Your Life Insurance Policy

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

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction.