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?

Thank you! Oops!

Related Content

10 Most Common and Costly Small Business Claims

10 Most Common and Costly Small Business Claims

Here are the 10 most common claims against small businesses. Are you covered?

Infographic: Who Sits at Your Table?

Infographic: Who Sits at Your Table?

Infographic: Who Sits at Your Table?

Personal Finance Tips for Military Families

Personal Finance Tips for Military Families

Military families face unique challenges, making personal finance even more critical.