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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Did You Know This Fact About Night Safety?

Did You Know This Fact About Night Safety?

Follow this tip to increase your children's visibility at night.

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?

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.