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

Annuity Comparison

Annuity Comparison

This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.

4 Things Trip Insurance Does (and Doesn't) Cover

4 Things Trip Insurance Does (and Doesn't) Cover

Planning a trip but unsure if travel insurance is a good idea? Check out these 4 key things to know what travel policies cover - and what they don’t.

Mastering Mobile Lingo

Mastering Mobile Lingo

Do you understand these common mobile slang terms?