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

Is a Variable Annuity Right for Me?

Pundits go on and on about how “terrible” or “wonderful” annuities are, but they never talk about if annuities are right.

Consider These 3 Things Before Driving Off the Lot

Here are 3 quick tips to keep in mind when buying or leasing your next vehicle.

Succeeding at Business Succession

There are a number of reasons for business owners to consider a business succession plan sooner rather than later.