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

8 Common Insurance Mistakes to Avoid

8 Common Insurance Mistakes to Avoid

Having at least a basic insurance plan is essential for anyone. It's important to figure out what insurance plans you need and what works best for you and your family.

A Look at Whole Life Insurance

A Look at Whole Life Insurance

Whole life insurance remains in force as long as you remain current with premiums. Here's how it works.

The Financial Literacy Crisis

The Financial Literacy Crisis

Many Americans are operating their personal finances with only the barest minimum of knowledge.