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

Ways to Supplement Your Medicare Coverage

Ways to Supplement Your Medicare Coverage

There are numerous ways to supplement your Medicare insurance coverage. This article helps you explore your options.

The Other Sure Thing

The Other Sure Thing

A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.

Life Insurance for Young Adults

Life Insurance for Young Adults

Getting life insurance before 40 is more common than you think—and it can be a smart choice for many people.