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?

Related Content

Prevent a Rift: Money Tips for Newlyweds

Couples may be able to head off many of the problems in a marriage that money can cause.

Extended Care: A Patchwork of Possibilities

What is your plan for health care during retirement?

The Business Cycle

How will you weather the ups and downs of the business cycle?