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?

Related Content

How to Read Your Credit Report

Solve a mystery while learning how important your credit report is with this story-driven interactive.

Who Does Survivorship Life Insurance Benefit?

For married couples, weighing life insurance pros and cons later in life is key to choosing what fits your needs.

Will It Pay to Buy Travel Insurance This Summer?

While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.