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

Did You Know This Fact About Parking in a Garage?

Did You Know This Fact About Parking in a Garage?

Save money by parking your car in your garage.

Life Stages That Impact Your Life Insurance Needs

Life Stages That Impact Your Life Insurance Needs

Life is constantly changing, and so are your life insurance needs. Check out the 5 stages and how they change your take on Life.

Disability and Your Finances

Disability and Your Finances

In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings.