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

How Pre-Existing Conditions Affect Life Insurance

How Pre-Existing Conditions Affect Life Insurance

Have a pre-existing condition? Learn the facts before assuming life insurance coverage is costly or low quality.

Making Sense Of A Home Warranty

Making Sense Of A Home Warranty

Understanding the value of a home warranty.

Insuring Your Business With a Buy/Sell Agreement

Insuring Your Business With a Buy/Sell Agreement

It may help your business be better prepared in the event of the death of a principal or key employee.