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

Did You Know This Fact About Fire Extinguishers?

Did You Know This Fact About Fire Extinguishers?

How often should you check your fire extinguishers? Do you know?

Protecting Your Home Against Flood Loss

Protecting Your Home Against Flood Loss

Protect yourself against the damage that your homeowners policy doesn’t cover.

Your DNA Test

Your DNA Test

Preparing for the unexpected can make all the difference if your family relies on your income.