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 Content

If a Pipe Breaks

Learn what to do when a pipe bursts with this helpful video flooded with smart tips.

The Anatomy of a Supplemental Health Plan

Here’s a guide to explain all the parts of Medicare.

Long-Term-Care Protection Strategies

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