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

What is a Dwelling Fire Policy?

What is a Dwelling Fire Policy?

Do you know what a Dwelling Fire Policy is?

The Financial Literacy Crisis

The Financial Literacy Crisis

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

Can Group, Private Disability Policies Work Together?

Can Group, Private Disability Policies Work Together?

Loss of income from disability has the potential to cause financial hardship. Disability insurance can help.