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 Most Overlooked Item of Any Home Improvement

The Most Overlooked Item of Any Home Improvement

The item most homeowners forget on their home improvement project checklist is insurance.

Unexpected Collectors: Protecting Your Passion

Unexpected Collectors: Protecting Your Passion

Whether you meant to be a collector or not, your prized possessions need to be protected.

Fixed or Variable Mortgage, Which Should You Pick?

Fixed or Variable Mortgage, Which Should You Pick?

When selecting a mortgage, one of the most critical choices is between a fixed or variable interest-rate mortgage.