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

The Five Basics of Financial Literacy

The Five Basics of Financial Literacy

How literate are you when it comes to your finances? Brush up with these five basics.

Snapshots

Snapshots

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

The Facts About Income Tax

The Facts About Income Tax

Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.