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

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.

What is a Policy?

Do you know what a Policy is?

What is an Appraisal?

Do you know what an Appraisal is?