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

Gun Ownership and Your Homeowners Policy

Gun Ownership and Your Homeowners Policy

Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability.

Should I Buy or Lease an Auto?

Should I Buy or Lease an Auto?

This calculator compares the financial impact of leasing versus buying an automobile.

Pay Yourself First

Pay Yourself First

It sounds simple, but paying yourself first can really pay off.