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

Creative Ways to Motivate Your Employees

Creative Ways to Motivate Your Employees

Five creative (and inexpensive) ideas for motivating your employees.

5 Benefits of Working in Retirement

5 Benefits of Working in Retirement

Here are 5 reason why you may consider working through retirement.

Universal Life Insurance

Universal Life Insurance

Universal life insurance is permanent insurance with a flexible premium. Here's how it works.