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?

Thank you! Oops!

Related Content

12 Days of Saving Tips

12 Days of Saving Tips

Having a set of savings tips to refer to can help make your short-term and long-term financial outlook merry and bright.

All Under One Roof

All Under One Roof

Consolidating your assets onto one platform can reap multiple benefits.

The 12 Steps to Living Confidently: How to Protect Yourself

The 12 Steps to Living Confidently: How to Protect Yourself

Protection. We’re obsessed with it these days.