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

What is an Agent?

What is an Agent?

Do you know what an Agent is?

What is an Adjuster?

What is an Adjuster?

Do you know what an Adjuster is?

Who Does Survivorship Life Insurance Benefit?

Who Does Survivorship Life Insurance Benefit?

Later in life, the pros and cons of different life insurance policies are important considerations for married couples. It's vital to choose a life insurance policy that suits your unique circumstances.