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.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

A Cheat Sheet for Sending Your Kid to College

A Cheat Sheet for Sending Your Kid to College

Dropping off your son or daughter is loaded with emotions; here are a few tips for a smoother experience.

Countdown to College

Countdown to College

Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way.

Understanding Dividends

Understanding Dividends

Find out the value working with a mutual company and how you may be entitled to an added benefit of an annual dividend.