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

Applying for Life Insurance? Here's What to Expect

Applying for Life Insurance? Here's What to Expect

Applying for life insurance isn't exactly simple, but it shouldn't be scary either. We've outlined exactly what you can expect when pursuing a new policy.

Does Your Credit Score Affect Your Insurance Rates?

Does Your Credit Score Affect Your Insurance Rates?

Your credit score may influence how much you pay for auto and home insurance.

Making Your Tax Bracket Work

Making Your Tax Bracket Work

Have you explored all your options when it comes to managing your taxable income?