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

5 Benefits of Working in Retirement

5 Benefits of Working in Retirement

Here are 5 reasons why you may consider working through retirement.

Surprise! You’ve Got Money!

Surprise! You’ve Got Money!

Here’s a quick guide to checking to see if you have unclaimed money.

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.