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

Dog Bites Neighbor. Now What?

Dog Bites Neighbor. Now What?

Even dogs have bad days. So, what happens when your dog bites a neighbor or passing pedestrian?

Did You Know This Fact About the Claims Process?

Did You Know This Fact About the Claims Process?

Claims can be left open as long as you need.

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.