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

Can I Refinance My Mortgage?

Can I Refinance My Mortgage?

This calculator can help determine whether it makes sense to refinance your mortgage.

Travel, Without the Baggage

Travel, Without the Baggage

Tips to avoid checking in luggage on your next vacation.

Errors and Omissions Insurance

Errors and Omissions Insurance

E&O insurance is specifically designed to protect you, or your company, from the risk of a client’s dissatisfaction.