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 Determines Car Insurance Rates?

What Determines Car Insurance Rates?

Learn about the factors used to create car insurance quotes in this educational article.

Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

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

Consider Keeping Your Life Insurance When You Retire

Consider Keeping Your Life Insurance When You Retire

Reasons to retain your coverage into your retirement years.