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?

Related Content

Did You Know This Fact About Claims Advances?

If a fire forces you out of your home, you can ask for a claim advance.

The Wild West of Data Theft

Learn about cyber liability insurance in this entertaining video.

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.