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

Understanding the Basics of Medigap Policies

Understanding the Basics of Medigap Policies

Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years.

Disability and Your Finances

Disability and Your Finances

In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings.

How Insurance Deductibles Work

How Insurance Deductibles Work

Knowing how insurance deductibles work can help you save money.