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

8 Common Insurance Mistakes to Avoid

8 Common Insurance Mistakes to Avoid

Having at least a basic insurance plan is essential for anyone. It's important to figure out what insurance plans you need and what works best for you and your family.

Did You Know This Fact About Smoke Detectors?

Did You Know This Fact About Smoke Detectors?

Do you know how often to change the batteries on your smoke detectors?

Split Annuity Strategy

Split Annuity Strategy

Here's one strategy that combines two different annuities to generate income and rebuild principal.