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

The Half Million Dollar Baby

The Half Million Dollar Baby

The true cost of raising a child may be far more than you expect.

Comparing Mortgage Terms

Comparing Mortgage Terms

Estimate the total cost in today's dollars of various mortgage alternatives.

Insurance Needs Assessment: When You're Newly Married

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs.