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.

Share |

Have A Question About This Topic?

Related Content

Money that Buys Good Health is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.

What is the Value of Your Business?

Ascertaining the value of your business is important for a variety of reasons.

Assess Life Insurance Needs

How to help determine life insurance needs to provide for your family after you pass away.