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 Adjuster?

What is an Adjuster?

Do you know what an Adjuster is?

Tax Rules When Selling Your Home

Tax Rules When Selling Your Home

The tax rules governing profits you realize from the sale of your home have changed in recent years.

Did You Know This Fact About Smoke Detectors?

Did You Know This Fact About Smoke Detectors?

Do you know how often to change the batteries on your smoke detectors?