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

Forecast

Forecast

This short video helps explain why markets can be as unpredictable as the weather.

Life Insurance for Young Adults

Life Insurance for Young Adults

Getting Life Insurance before 40 isn’t as uncommon as you think. Find out why this can be a super smart decision for just about anyone.

The Five Basics of Financial Literacy

The Five Basics of Financial Literacy

How literate are you when it comes to your finances? Brush up with these five basics.