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

Did You Know This Fact About Damaged Property?

Did You Know This Fact About Damaged Property?

Damaged property during the claims process shouldn't be thrown away.

Life Insurance Myths: Debunked

Life Insurance Myths: Debunked

Whether you have life insurance through your work or are retired it pays to know the truth about life insurance coverage.

The Best of Both Worlds

The Best of Both Worlds

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