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

How Insurance Deductibles Work

How Insurance Deductibles Work

Knowing how insurance deductibles work can help you save money and give you peace of mind.

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.

Insurance Needs Assessment: When You're Young and Single

Insurance Needs Assessment: When You're Young and Single

Even if you’re young and single, you should still consider protecting yourself.