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?

Related Contents

If You're In An Accident

Learn the best steps to take after you’ve been in an automobile accident with this useful, step-by-step video.

Does Your Credit Score Affect Your Insurance Rates?

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

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.