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?

Related Content

Strategies for Managing Student Loan Debt

Five strategies for managing your student debt.

What is a Carrier?

Do you know what a Carrier is?

Did You Know This Fact About Trampolines?

Trampolines cause thousands of injuries per year.