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

Acres of Diamonds

Acres of Diamonds

In life it often happens that the answers to our most pressing questions are right in our own backyards.

Strategies for Managing Student Loan Debt

Strategies for Managing Student Loan Debt

Five strategies for managing your student debt.

Should You Tap Retirement Savings to Fund College?

Should You Tap Retirement Savings to Fund College?

There are three things to consider before dipping into retirement savings to pay for college.