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

Buying Auto Insurance For Teen Drivers

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.

Bi-Weekly Payments

Bi-Weekly Payments

This calculator estimates the savings from paying a mortgage bi-weekly instead of monthly.

When to Self-Insure

When to Self-Insure

Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?