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

The Best of Both Worlds

Here are a few reasons we’ve chosen to be independent.

How Stocks Work

Understanding how a stock works is key to understanding your investments.

Term vs. Permanent Life Insurance

When considering life insurance, it's important to understand your options.