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

Lifetime of Earnings

Lifetime of Earnings

Estimate how much you have the potential to earn during your working years.

Should You Have More Than One Life Policy?

Should You Have More Than One Life Policy?

Whether you need more than one life insurance policy will depend on your personal and financial situation. In this article, we explore some of the reasons one might purchase additional policies.

How Your Credit May Affect Your Life Insurance Premiums

How Your Credit May Affect Your Life Insurance Premiums

This article is perfect for helping you explore the surprising connection between your credit score and life insurance costs.