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

Directors and Officers Liability Insurance

Directors and Officers Liability Insurance

Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making.

Budgeting After a Divorce

Budgeting After a Divorce

Divorce is the second most stressful time in a person's life. Here's some tips to get through it.

A Home Insurance Claim: To File Or Not To File

A Home Insurance Claim: To File Or Not To File

Learn when it may not make sense to file a claim on your home insurance.