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

Choosing Between Term and Whole Life Insurance

Choosing Between Term and Whole Life Insurance

Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.

Did You Know This Fact About Unattended Cooking?

Did You Know This Fact About Unattended Cooking?

Do you know unattended cooking is a leading cause of fatal home fires?

The Right Time to Buy an Annuity

The Right Time to Buy an Annuity

Learn how timing can influence your decision about if and when to buy.