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

How Swimming Pools Affect Your Homeowners Policy

How Swimming Pools Affect Your Homeowners Policy

When the weather warms up, it’s important to remain up to date when it comes to your insurance coverage—especially if you own a pool.

Did You Know This Fact About Claims Advances?

Did You Know This Fact About Claims Advances?

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

Countdown to College

Countdown to College

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