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

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.

The Cost of Medical Care

The Cost of Medical Care

Learn about the risks of not having health insurance in this informative article.

Keep Your Umbrella Handy

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.