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

Please Leave Home Without It

Please Leave Home Without It

Concerns over identity theft continue to grow, especially with data breaches at major companies and financial institutions.

What to Look for in Personal Finance Apps

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.

Gap Insurance for Leased Cars

Gap Insurance for Leased Cars

If you’re thinking of leasing a new car, then you shouldn’t forget about gap insurance.