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

5 Key Points for Choosing a Life Insurance Policy

5 Key Points for Choosing a Life Insurance Policy

While price is a big factor, there are other important factors to consider when choosing the right life insurance policy for you.

Your Emergency Fund: How Much Is Enough?

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.

Snapshots

Snapshots

Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going.