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

The ABC’s of Auto Insurance

The ABC’s of Auto Insurance

What kind of auto insurance should you have? Do you know?

How to Read Your Credit Report

How to Read Your Credit Report

Solve a mystery while learning how important your credit report is with this story-driven interactive.

To Catch a Thief

To Catch a Thief

Having your identity stolen may result in financial loss plus the cost of trying to restore your good name.