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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

When considering life insurance, it's important to understand your options.

5 Tips to Prep for a Possible Recession

5 Tips to Prep for a Possible Recession

No one knows when the next recession will hit, but there are things you can do to prepare for it

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.