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

The Richest Man in Babylon

The Richest Man in Babylon

In good times and bad, consistently saving a percentage of your income is a sound financial practice.

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.

Did You Know This Fact About Emergency Preparedness?

Did You Know This Fact About Emergency Preparedness?

An emergency kit is essential for every household.