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?

Related Contents

Snapshots

Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going.

When Does Your Personal Car Become a Commercial Vehicle?

At what point can you call a personal vehicle commercial?

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.