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

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

Your DNA Test

Your DNA Test

Preparing for the unexpected can make all the difference if your family relies on your income.

The Case of the Crooked Credit Report

The Case of the Crooked Credit Report

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